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Concord Corporation was organized on January 1,2025 . It is authorized to issue 22,300 shares of 6%,$50 par value preferred stock and 467,000 shares of
Concord Corporation was organized on January 1,2025 . It is authorized to issue 22,300 shares of 6%,$50 par value preferred stock and 467,000 shares of no-par common stock with a stated value of $3 per share. The following stock transactions were completed during the first year. Jan. 10 Issued 73,500 shares of common stock for cash at $6 per share. Mar. 1 Issued 14,300 shares of preferred stock for cash at $53 per share. May 1 Issued 118,500 shares of common stock for cash at $8 per share. Sept. 1 Issued 5,700 shares of common stock for cash at $7 per share. Nov. 1 Issued 3,700 shares of preferred stock for cash at $56 per share. Journalize the transactions. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for th amounts. List all debit entries before credit entries.) Sept. 1 Cash Common Stock Paid-in Capital in Excess of Stated Value-Common Stock Nov. 1 Cash Preferred Stock Paid-in Capital in Excess of Par-Preferred Stock Post to the stockholders' equity accounts. (Post entries in the order of journal entries posted in the previous part.) Common Stock Paid-in Capital in Excess of Stated Value-Common Stock The parts of this question must be completed in order. This part will be available when you complete the part above
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