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During its first year of operations, Bonita Corporation had the following transactions pertaining to its common stock. Jan. 10 Issued 83,700 shares for cash at
During its first year of operations, Bonita Corporation had the following transactions pertaining to its common stock. Jan. 10 Issued 83,700 shares for cash at $6 per share. Mar. 1 Issued 5,000 shares to attorneys in payment of a bill for $37,000 for services rendered in helping the company incorporate. July 1 Issued 32,100 shares for cashat $8 per share. Sept. 1 Issued 63,100 shares for cash at $10 per share. Date Account Titles and Explanation Common Stock Paid-in Capital in Excess of Par - Common Stock Mar. 1 Organization Expense 37,000 Common Stock Paid in Capital in Excess of Par - Common Stock 25,00012,000 (:) July 1 Cash Prepare the joumal entries for these transactions, assuming that the common stock is no-par with a stated value of $3 per share. (List all debit entrles before credit entries. Credit occount tities are outomatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the occount titles and enter O for the amounts. Record entries in the order disployed in the problem statement.)
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