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Record journal entries for the following separate transactions. - Note: As needed, use the account Common Stock for parts a through e, and use the
Record journal entries for the following separate transactions. - Note: As needed, use the account "Common Stock" for parts a through e, and use the accounts "Common Stock-Class A" and "Common Stock-Class B" for parts f and g. -Class B Common Stock" for parts f and g. a. Max Inc. issued 8,000 shares of $1 par value common stock for $20 per share. b. Max Inc. issued 1,600 shares of no-par common stock for $25 per share. The state of incorporation requires a minimum value per share of $2. c. Max Inc. issued 800 shares of no-par common stock for $18 per share. d. Max Inc. issued 8,000 shares of $1 par value common stock for $18 per share and incurred $1,600 in legal fees related to the stock issuance. e. Max Inc. issued 16,000 shares of common stock ( $1 par) in exchange for equipment with a fair value of $284,800. and the market price of the Class B common stock is $10 per share. and the market price of the Class B common stock is unknown
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