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Budget Office Supply Corporation completed the following stock issuance transaction Mar. 28 May 1 May 14 Issued 5,000 shares of $4 stated value common

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Budget Office Supply Corporation completed the following stock issuance transaction Mar. 28 May 1 May 14 Issued 5,000 shares of $4 stated value common stock for cash of $20 per share Received merchandise inventory with a market value of $46,000 in exchange for 2,000 shares of the $4 stated value common stock. Issued 450 shares of 5%, $20 par value preferred stock for $50 per share Prepare the journal entries to record these transactions. Explanations are not required. Edit Format Table 12ptv Paragraph BIUA 21

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