Do It! Review 11-2a

Cheyenne Corp. began operations on April 1 by issuing51,400shares of $5par value common stock for cash at $15per share. In addition, Cheyenne issued 1,500 shares of $1 par value preferred stock for $4 per share.

Journalize the issuance of the common and preferred shares.(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 the amounts.)

Date

Account Titles and Explanation

Debit

Credit

April 1

(To record issuance of common shares)April 1

(To record issuance of preferred shares)