Intermediate Accounting $105$

May I please have the solution to the part $($b$)$ of the exercise?

Thank you so much

During its first year of operatlons, Blossom Corporation had the following transactlons pertaining to its common stock.

Jan. $10$ lssued $80,500$ shares for cash at $$6$ per share.

Mar. $1$ lssued $5,000$ shares to attorneys in payment of a bill for $$37,700$ for services rendered in helping the company to

Incorporate.

July $1$ lssued $33,300$ shares for cash at $$8$ per share.

Sept $1$ lssued $62,100$ shares for cash at $$10$ per share.

$($a$)$

Your answer ls correct.

Prepare the journal entrles for these transactions, assuming that the common stock has a parvalue of $$5$ per share. $($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. Record entries in the order displayed in the problem

statement.$)$

$($b$)$

Prepare the Journal entrles for these transactions, assuming that the common stock is no$-$par with a stated value of $$3$ per share.

$($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. Record entries in the order displayed

in the problem statement.$)$

Date

Account Titles and Explanation

Debit

Credit

Credit