Instructions

On May $10,$ a company issued for cash $1,500$ shares of no$-$par common stock $($with a stated value of $$2)$ at $$16,$ and on May $15,$ it issued for cash $3,000$ shares of $$15$ par preferred stock at $$60.$

Required:

Journalize the entries for May $10$ and $15,$ assuming that the common stock is to be credited with the stated value. Refer to the Chart of Accounts for exact wording of account titles.

General Journal

Joumalize the entries for May $10$ and $15,$ assuming that the common stock is to be credited with the stated value Refer to the Chart of Accounts for exact wording of account titles.

PAGE $1$

ACCOUNTING EQUATION

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