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Monty Corporation, a private corporation, was organized on February 1, 2023. It is authorized to issue 82,800, $6 noncumulative preferred shares, and an unlimited number
Monty Corporation, a private corporation, was organized on February 1, 2023. It is authorized to issue 82,800, $6 noncumulative preferred shares, and an unlimited number of common shares. The following transactions were completed during the first year: Feb. 10 Issued 66,240 common shares at $4 per share. Issued 4,140 preferred shares at $114 per share. Issued 18,630 common shares for land. The land's asking price was $82,800 and its appraised value was $74,520. Issued 64,584 common shares at $4.50 per share. Issued 8,280 common shares to lawyers to pay for their bill of $37,260 for services they performed in helping the comp Issued 8,280 common shares at $5 per share. 1 Issued 828 preferred shares at $120 per share. Mar. 1 Apr. 1 June 20 July 7 Sept. 1 Nov. Journalize the transactions. (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 O for the amounts. Record journal entries in the order presented in the problem. List all debit entries before credit entries.)
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