Can you please prepare the journal entries to record the above transactions? Thank you! ...
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Accounting
Can you please prepare the journal entries to record the above transactions? Thank you!
Whispering Corporation was organized on January 1,2020 . It is authorized to issue 9,600 shares of 8%,$100 par value preferred stock, and 501,500 shares of no-par common stock with a stated value of $1 per share. The following stock transactions were completed during the first year. Jan. Issued 80,050 shares of common stock for cash at \$6 per share. 10 Mar. Issued 5,930 shares of preferred stock for cash at $113 per share. 1 Apr. Issued 24,680 shares of common stock for land. The asking price of the land was $90,820; the fair value of the land was 1$80.050. May Issued 80,050 shares of common stock for cash at $8 per share. Aug. Issued 9,600 shares of common stock to attorneys in payment of their bill of $50,400 for services rendered in helping the 1 company organize. Sept. Issued 9,600 shares of common stock for cash at $10 per share. 1 Nov. Issued 1,100 shares of preferred stock for cash at $115 per share. 1
Can you please prepare the journal entries to record the above transactions? Thank you!

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