On May 1, 2019, Antonelli Corporation received a subscription from Angelina Paz for 700 shares of its $1 par-value common stock at a price of $28 a share. Paz made a payment of $14.00 per share on the stock at the time of the subscription. Prepare the journal entries to record receipt of the subscription and the cash payment. Prepare entries on June 1, 2019, to record payment of the balance of Pazs subscription and issuance of the stock.

Journal entry worksheet

• Record the receipt of the subscription.

Note: Enter debits before credits.

Date	General Journal	Debit	Credit
May 01, 2019

• Record the cash payment.

Note: Enter debits before credits.

Date	General Journal	Debit	Credit
May 01, 2019

• Record the payment by Angelina Paz of balance due on stock subscription.

Note: Enter debits before credits.

Date	General Journal	Debit	Credit
Jun 01, 2019

• Record the issuance of 700 shares of common stock to Angelina Paz.

Note: Enter debits before credits.

Date	General Journal	Debit	Credit
Jun 01, 2019