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Prepare the issuer's journal entry for each of the following separate transactions. a. On March 1, Atlantic Company issues 47,500 shares of $4 par value
Prepare the issuer's journal entry for each of the following separate transactions. a. On March 1, Atlantic Company issues 47,500 shares of $4 par value common stock for $312,500 cash. b. On April 1, OP Company issues no-par value common stock for $80,000 cash. c. On April 6, MPG issues 3,000 shares of $15 par value common stock for $49,000 of inventory, $150,000 of machinery, and acceptance of a $99,000 note payable. View transaction list Journal entry worksheet 1 2 3 Record the issuance of 47,500 shares of $4 par value common stock for $312,500 cash. Note: Enter debits before credits. Transaction General Journal Debit Credit Journal entry worksheet < 1 2 3 Record the issuance of no-par value common stock for $80,000 cash. Note: Enter debits before credits. Transaction b. General Journal Debit Credit Journal entry worksheet < 1 2 3 Record the issuance of 3,000 shares of $15 par value common stock for $49,000 of inventory, $150,000 of machinery, and acceptance of a $99,000 note payable. Note: Enter debits before credits. Transaction C. General Journal Debit Credit Record entry Clear entry View general journal
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