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Willow Creek nursery with an authorization of 75,000 shares of preferred stock and 200,000 shares...

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Accounting

Willow Creek nursery with an authorization of 75,000 shares of preferred stock and 200,000 shares of common stock completed several transactions involving it stock on October 1 the first day of operations the trial balance at the close of the day follows.
Cash 4,768,000 land 819,000 buildings 2,029,000 preferred one percent stock $80 per (credit)2,560,000 paid in capital in excess of preferred stock (credit)288,000 common stock $30 par 4,470,000 paid in capital and excess of Par common stock (credit)298,000 totals debit 7,616,000(credit)7,616,000 journalize the two entries to record the transaction summarized in the trial balance refer to the chart of accounts for the exact wording of account titles

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