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On April 28, 2019, Sweden Inc. accepted subscriptions for 15,000 of its no par value common shares. At this time, the shares were selling for
On April 28, 2019, Sweden Inc. accepted subscriptions for 15,000 of its no par value common shares. At this time, the shares were selling for $40 each. A 35% down payment was received with the remainder due in six months. On October 28, 2019 the balance of the subscription price was received and the shares were issued Required: a. Using the space provided below, prepare the journal entries required on April 28, 2019. Account Debit Credit Account Debit Credit Cash b. Using the space provided below, prepare the journal entries required on October 28, 2019. Account Debit Credit Cash Account Debit Credit
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