Problem #4

(A) BBS corporation had the following transactions during the current period. March 2 - Issued 5,000 shares of $6 par value common stock to attorneys in payment of a bill for $50000 for services performed in helping the company to incorporate. June 12 - Issued 56000 shares of $6 par value common stock for cash of $536000. July 11 Issued 1030 shares of $120 par value preferred stock for cash at $170 per share.

Instructions: Journalize the above transactions