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  3. bramble inc. sells 1,420 common shares on a subscr

Bramble Inc. sells 1,420 common shares on a subscription basis at $66 per share on...

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Accounting

Bramble Inc. sells 1,420 common shares on a subscription basis at $66 per share on June 1 and accepts a 40% down payment. On
December 1, Bramble collects the remaining 60% and issues the shares.
Prepare the company's journal entries. (List all debit entries before credit entries. Credit account titles are automatically indented when the
amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)
Account Titles and Explanation
Cash
Share Subscriptions Receivable
(To record sale of shares on a subscription basis)
Share Subscriptions Receivable
(To record collection of down payment)
Common Shares Subscribed
Common Shares
(Collection of share subscriptions receivable)
(To record issuance of shares)
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