Moon Corporation. was organized on January 1, 2019. It is authorized to issue 100,000 shares of 9%, 5100 par value preference shares, and 1,000,000 shares of $4 par value of ordinary shares. The following transactions were occurred during the first year March 5. Issued 55,000 shares of preference shares for cash at $107 per share, The correct Journal entry on March 5 22 29 Cash 5,885,000 36 Shares Capital Preference Shares Premium Preference 385,000 5,500,000 Finnh Cash 5,885,000 Shares Capital Preference Shares Premium-Preference 5,500,000 385,000 5,885,000 Cashy Shares Capital Preference Shares Premium- Preference 5,000,000 185,000 5,885,000 Cash Shares Capital ordinary Shares Premium ordinary 3,500,000 385.000 Ne pode Previous page