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Cash and Noncash Share Issuances Guild Corporation was organized on June 1. The company's charter authorizes 500,000 shares of $5 par value common stock On

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Cash and Noncash Share Issuances Guild Corporation was organized on June 1. The company's charter authorizes 500,000 shares of $5 par value common stock On July 1, the attorney who helped organize the corporation accepted 1,050 shares of Guild common stock in settlement for the services provided the services were valued at $13.300). On July 15, Guild issued 8.750 common shares for $113.750 cash On September 15. Guild issued 3.500 common shares to acquire a vacant land site appraised at $49.000 Prepare the journal entries to record the stock issuances on July 1.July 15and September 15 General Jourmal Description Debit Crede Support Commons e common shares in exchange for sed common shares for cash. Issued common shares for and Check

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