QS $11-5($Algo$)$ Issuance of common stock LO P$1$

Prepare the issuer's journal entry for each of the following separate transactions.

a$.$ On March $1,$ Atlantlc Company Issues $52,500$ shares of $$4$ par value common stock for $$327,500$ cash.

b$.$ On Aprll $1,$ OP Company Issues no$-$par value common stock for $$90,000$ cash.

c$.$ On April $6,$ MPG Issues $4,000$ shares of $$20$ par value common stock for $$59,000$ of Inventory, $$185,000$ of machinery, and

acceptance of a $$95,000$ note payable.

Journal entry worksheet

Record the issuance of $52,500$ shares of $$4$ par value common stock for

$$327,500$ cash.

Note: Enter debits before credits.