tigua and Barbufs International institute ot End ot term, E.arn. io.. May 11, 2017, paid the note at maturity Prepare the necessary journal entries to record the above transactions Fun Time Corporation has two classes of stocki Common, $8 par; Preferred, $30 par Issue 1200 shares of common stock for $15 per share Issue 1,000 shares of preferred stock for a total of $3o,000. Make the necessary journal entries to record the issuance HaPpy Acres Company issued 500,000, 8% seven-year bond payable Issue the bonds payable at 95 on January 1, 20117 Pay semi- annual cash payment on July 1, 2017. Pay the bond payable at maturity. 1. April 30, 2016, Reliable Construction Company purchased equiprnent costing SAS, 000 by using n 1 year, 9% note payable. December 31. 2016. Accrue interest on the note payable May 31, 2017, pald the note at maturity. Prepare the necessary journal entries to record the above transactions 2 Fun Time Corporation has two classes of stock: Common, $8 par; Preferred, $30 par. Issue 1200 shares of common stock for $15 per share. Issue 1,000 shares of preferred stock for a total of $30,000. Make the necessary journal entries to record the issuance. Happy Acres Company issued 500,000, 8% seven-year bond payable. Issue the bonds payable at 95 on January 1, 2017. Pay semi- annual cash payment on July 1, 2017. Pay the bond payable at maturity