Part 2 i\ Madison Shoes manufactures athletic shoes and sports apparel. Assume the following activities occurred during a recent year. The dollar amounts in (a) and (b) are presented "in millions," and the dollar amount in (c) is per share. When reporting amounts "in millions," exclude the 000,000 .\ a. Purchased

$236

in equipment; paid by signing a

$8

long-term note and fulfilling the rest with cash.\ b. Issued

$29

in additional common stock for cash contributions made by stockholders.\ c. Several Madison Shoes investors sold their own stock to other investors on the stock exchange for

$100

per share of stock.\ Required:\ For each of the events above, prepare journal entries.\ Which statement best describes transaction (

c

)?\ Complete this question by entering your answers in the tabs below.\ For each of the events above, prepare journal entries. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Enter your answers in millions (i.e.,

10,000,000

should be entered as 10).)\ Journal entry worksheet\ 1\ 2\ 3\ Purchased

$236

in equipment: Daid bv sianina a

$8

lona-term note and\ Prev\ 4 of 17\ Next

Madison Shoes manufactures athletic shoes and sports apparel. Assume the following activities occurred during a recent year. The dollar amounts in (a) and (b) are presented "in millions," and the dollar amount in (c) is per share. When reporting amounts "in millions," exclude the 000,000 . a. Purchased $236 in equipment; paid by signing a $8 long-term note and fulfilling the rest with cash. b. Issued $29 in additional common stock for cash contributions made by stockholders. c. Several Madison Shoes investors sold their own stock to other investors on the stock exchange for $100 per share of stock. Required: 1. For each of the events above, prepare journal entries. 2. Which statement best describes transaction (c)? Complete this question by entering your answers in the tabs below. For each of the events above, prepare journal entries. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) Journal entry worksheet Purchased $236 in equipment: Daid bv sianina a $8 lona-term note and