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The following transactions took place in June for the Holista Corporation: 1st Issued...

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Accounting

The following transactions took place in June for the Holista Corporation:

  • 1st Issued 1,000 shares of $100 preferred shares.
  • 10th Issued 3,000 shares of common shares for $18 per share.
  • 15th Received land with a fair market value of $60,000 and a building with a fair market value of $180,000 in exchange for 15,000 shares of common shares.

Which of the following is the correct journal entry for June 1st transaction?

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