Newly formed S&J Iron Corporation has 63,000 shares of $7 par common stock authorized. On March 1, Year 1, S&J Iron issued 9,000 shares of the stock for $12 per share. On May 2, the company issued an additional 20,500 shares for $21 per share. S&J Iron was not affected by other events during Year 1.

1

Record the issuance of 9,000 shares of common stock for $12 per share.

Note: Enter debits before credits.

Date	General Journal	Debit	Credit
March 01

2

Record the issuance of 20,500 shares of common stock for $21 per share.

Date	General Journal	Debit	Credit
May 02