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On January 22, Zentric Corporation issued for cash 37,000 shares of no-par common stock at $20. On February 14, Zentric issued at par value 5,000
On January 22, Zentric Corporation issued for cash 37,000 shares of no-par common stock at $20. On February 14, Zentric issued at par value 5,000 shares of preferred 5% stock, $60 par for cash. On August 30, Zentric issued for cash 17,000 shares of preferred 5% stock, $60 par at $127. Journalize the entries to record the January 22, February 14, and August 30 transactions. Refer to the Chart of Accounts for exact wording of account titles. JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY 1 2 3 4 5 6 7
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