Please give me actually answers that are understandable. QS 11-5...
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QS 11-5 Issuance of common stock LO P1 Prepare the issuer's journal entry for each of the following separate transactions a. On March 1, Atlantic Co. Issues 42,500 shares of $4 par value common stock for $297,500 cash. b. On April 1. OP Co. Issues no par value common stock for $70,000 cash. c. On April 6, MPG Issues 2.000 shares of $25 par value common stock for $45,000 of inventory. $145,000 of machinery, and acceptance of a $94.000 note payable View transaction list Journal entry worksheet 2 3 Record the issuance of 42,500 shares of $4 par value common stock for $297,500 cash. Note: Enter debits before credits. Transaction General Journal Debit Credit
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