c) On the issue date, the annual market rate for these bonds is 6%, which implies a selling price of 105 or $8400. Record the sale of the bond on December 31 which is sold at a premium. Date Description Debit Credit Chapter 11 3) The LTD Corporation authorized the issuance of 1.5 million shares of $6 par value common stock. Record the journal entry for the issuance of the common stock. Date Description Debit Credit 9) The Smith Co. issued 50 shares of $100 par value of preferred stock for $6,000 cash. Prepare the journal entry below for the issuance. Date Description Debit Credit 10) a) Baron Corporation bought back 500 of its own shares for $5,500. Record the entry below to record this purchase as a treasury stock purchase. Debit Credit Date Description