On April 20, Gallatin County Rocks Inc., a marble contractor, issued for cash 75,000 shares of $45
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On April 20, Gallatin County Rocks Inc., a marble contractor, issued for cash 75,000 shares of $45 par common stock at $54, and on August 7, it issued for cash 20,000 shares of pre- ferred stock, $10 par at $12. a. Journalize the entries for April 20 and August 7. b. What is the total amount invested (total paid-in capital) by all stockholders as of August 7?
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