Whitten corporation was organized on january 1 2012 it is, Ask an Expert

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Whitten Corporation was organized on January 1, 2012. It is authorized to issue 21,200 shares of 5%, $50 par value preferred stock and 548,800 shares of no-par common stock with a stated value of $3 per share. The following stock transactions were completed during the first year.

Jan. 10		Issued 73,200 shares of common stock for cash at $4 per share.
Mar. 1		Issued 12,300 shares of preferred stock for cash at $54 per share.
May 1		Issued 134,100 shares of common stock for cash at $5 per share.
Sept. 1		Issued 5,000 shares of common stock for cash at $7 per share.
Nov. 1		Issued 3,200 shares of preferred stock for cash at $57 per share

Journalize the transactions.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9949183

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