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Medium Problem 7-3. Memorandum Entry Mothod Prepare the journal ontries (without explanations) to record the foregoing facts using the Memorandum Entry Method June 1 Fox Corporation was incorporated on June 1. 2014 and was authorized to issue 1,000 common shares June 2 Arturo bought 100 shares at P110 per share and paid cash. Stock certificate was issued June 3 Boy subscribed 100 shares at P110 per share and paid 50% in cash and the balance to be paid on June 23. June 4 Kikay subscribed 100 shares at P105 to be paid in two equal installments; the first installment is on June 24 and the second installment will be on July 4. Dorong subscribed 200 shares. Dorong ofered to pay using an equipment which is currently worth P25,000. The corporation agreed. Dorong delivered the equipment this day and a stock certificate was issued. Boy paid the balance in full. The stock certificate was issued. Kikay paid the first installment of her subscription. Atty. Nokes was collecting for his legal services worth P15,000. H with 120 shares of stocks. A stock certificate for 120 common shares was issued. June 5 June 23 Jun 24 June 25 o consented to be paid 207