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The following selected information is from Princeton Company's comparative balance sheets 2017 2016 At December...

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Accounting

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The following selected information is from Princeton Company's comparative balance sheets 2017 2016 At December 31 Common stock, Paid-in capital in excess of par Retained earnings $10 par value $ 105,000 100,000 567,000 342,000 313,500 287,500 The company's net income for the year ended December 31, 2017, was $48,000 1. Complete the T-accounts to calculate the cash received from the sale of its common stock during 2017 Common Stock, $10 Par Beg. bal 100,000 5,000 Issuance of common stock End. bal 105,000 Paid-in Capital in Excess of Par 342,000 225,000E Issuance of common stock Beg. bal End. bal 567,000 Cash received

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