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Prepare the issuer's journal entry for each of the following separate transactions. a. On March 1, Atlantic Company issues 46,000 shares of $5 par
Prepare the issuer's journal entry for each of the following separate transactions. a. On March 1, Atlantic Company issues 46,000 shares of $5 par value common stock for $308,000 cash. b. On April 1, OP Company issues no-par value common stock for $77,000 cash. c. On April 6, MPG issues 2,700 shares of $25 par value common stock for $46,000 of inventory, $170,000 of machinery, and acceptance of a $96,000 note payable. View transaction list Journal entry worksheet 1 2 3 Record the issuance of 46,000 shares of $5 par value common stock for $308,000 cash. Note: Enter debits before credits. Transaction a. General Journal Debit Credit Record entry Clear entry View general journal >
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