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Crane Corporation issued 1,700 shares of its $10 par value common stock for $49,200. Crane also incurred $1,700 of costs associated with issuing the stock.
Crane Corporation issued 1,700 shares of its $10 par value common stock for $49,200. Crane also incurred $1,700 of costs associated with issuing the stock. Prepare Crane's journal entry to record the issuance of the company's stock. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)
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