journal entries

1. BASED ON 3. ABOVE, ABC COMPANY SOLD 1,000 SHARES OF ITS TREASURY STOCK FOR $102/SH

2. ABC COMPANY ISSUED 10,000 SHARES OF ITS COMMON STOCK FOR CASH. PV IS $3/SH AND THE SELLING PRICE IS $99/SH

3. ABC COMPANY ISSUED 10,000 SHARES OF ITS COMMON STOCK IN ITS PURCHASE OF LAND.

LANDS ASKING PRICE IS $500,000.

LANDS SELLING PRICE IS $450,000

PV OF STOCK IS $3/SH

SELLING PRICE OF STOCK IS $46/SH