King Corporation began operations in January of the current year. The charter authorized the following stock: Preferred stock: 10 percent. $13 par value, 41,200 shares authorized Common stock: $8 par value, 86,700 shares authorized During the current year, the following transactions occurred in the order given: a. Issued 22,200 shares of common stock for $12 per share. b. Sold 8,400 shares of the preferred stock at $23 per share. c. Sold 1,300 shares of the preferred stock at $23 per share and 3,400 shares of common stock at $13 per share. Required: Provide the journal entries required to record each of the transactions in (a) through (c). (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 2 3 Issued 22,200 shares of common stock for $12 per share. Note: Enter debits before credits Transaction General Journal Debit Credit a Preferred stock: 10 percent. $13 par value, 41,200 shares authorized Common stock: $8 par value, 86,700 shares authorized During the current year, the following transactions occurred in the order given: a. Issued 22,200 shares of common stock for $12 per share. b. Sold 8,400 shares of the preferred stock at $23 per share. c. Sold 1,300 shares of the preferred stock at $23 per share and 3.400 shares of common stock at $13 per share. Required: Provide the journal entries required to record each of the transactions in (a) through (c). (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 2 3 Sold 8,400 shares of the preferred stock for $23 per share. Note: Enter debits before credits General Journal Debit Credit Transaction b. King Corporation began operations in January of the current year. The charter authorized the following stock Preferred stock: 10 percent. $13 par value, 41,200 shares authorized Common stock: $8 par value, 86,700 shares authorized During the current year, the following transactions occurred in the order given: a. Issued 22,200 shares of common stock for $12 per share. b. Sold 8,400 shares of the preferred stock at $23 per share. c. Sold 1,300 shares of the preferred stock at $23 per share and 3,400 shares of common stock at $13 per share. Required: Provide the journal entries required to record each of the transactions in (a) through (c). (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 2 3 Sold 1,300 shares of the preferred stock for $23 per share and 3,400 shares of common stock for $13 per share. Note: Enter debits before credits Transaction General Journal Debit Credit C
