Question
On July 11, American Lift Corporation, a wholesaler of hydraulic lifts, acquired land in exchange for 7,400 shares of $5 par common stock with a
On July 11, American Lift Corporation, a wholesaler of hydraulic lifts, acquired land in exchange for 7,400 shares of $5 par common stock with a current market price of $35.
Journalize the entry to record the transaction. Refer to the Chart of Accounts for exact wording of account titles.
CHART OF ACCOUNTS | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
American Lift Corporation | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
General Ledger | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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