Einstein, Graham & Co. began a new public corporation. The corporation's common shares have no par value. During the first month of operations, it had the following share transactions. a) Einstein, Graham & Co. issued 13,700 common shares for $114,000 on November 6, 2020. Write the journal entry to record the transaction. Do not enter dollar signs or commas in the input boxes. For transactions that have 2 debits or credits, enter the accounts in alphabetical order. Date Account Title and Explanation Debit Credit Nov 114000 Cash 6 Common Shares 100300 X issued common shares b) On November 6, 2020, Einstein, Graham & Co. issued an additional 11,100 common shares in exchange for equipment and a building. The equipment was valued at $65,000 and the building valued at $118,000. Record the transaction. Date Account Title and Explanation Debit Credit Nov 6 Cash Cash DividendsPreferred, noncumulative - X Common Shaers Exchanged building and equipment for common shares c) The lawyer that handled the issue of shares has sent a bill for $5,700. The lawyer has agreed to accept 520 common shares instead of cash. Record the transaction on November 8, 2020. Date Account Title and Explanation Debit Credit Nov 8 Cash Paid lawyer's fee with common shares Contact us