Intermediate Accounting 306-02 -- Fall 2021 . E Question 7, BE15-7 (simil... HW Score: 27.27%, 3 of 11 points O Points: 0 of 1 Sa Cool Spring Water Company recently employed a consultant to revise its production and distribution procedures. In order to compensate the consultant, Cool issued 1,800 shares of its $2 par value common stock. Those shares are not publicly traded, but the board of directors has estimated their value at $48 per share. The consulting firm billed other clients $78,400 for similar services in recent transactions. Prepare the journal entry required to record the transaction (Record debits first, then credits. Exclude explanations from any journal entries.) Account Current Year Get More Help Clear All Check Answer k Pro