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Ivanhoe Corporation had the following transactions. 1. Sold land (cost $11,000) for $14,000. 2. Issued common stock at par for $20,000. 3. 456 Recorded
Ivanhoe Corporation had the following transactions. 1. Sold land (cost $11,000) for $14,000. 2. Issued common stock at par for $20,000. 3. 456 Recorded depreciation on buildings for $16,000. Paid salaries of $8,000. 5. Issued 900 shares of $1 par value common stock for equipment worth $7,200. 6. Sold equipment (cost $8,600, accumulated depreciation $6,020) for $1,032. (a) For each transaction above, prepare the journal entry. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
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