Carla Vista Corporation had the following transactions 1 Sold land (cost $11,200) for $14,700. 2 Issued common

 Carla Vista Corporation had the following transactions

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1 Sold land (cost $11,200) for $14,700. 2 Issued common stock at par for $20,000. 3. Recorded depreciation on buildings for $16,200. 4 Pald salarles of $8,200. 5. Issued 1,100 shares of $1 par value common stock for equipment worth $8,800. 6. Sold equipment (cost $9,000, accumulated depreciation $6,300) for $1,080. (a) For each transaction above, prepare the Journal entry. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List all debit entries before credit entries.) iction Account Titles and Explanation Debit Credit 1 Sold land (cost $11,200) for $14,700. 2 Issued common stock at par for $20,000. 3. Recorded depreciation on buildings for $16,200. 4 Pald salarles of $8,200. 5. Issued 1,100 shares of $1 par value common stock for equipment worth $8,800. 6. Sold equipment (cost $9,000, accumulated depreciation $6,300) for $1,080. (a) For each transaction above, prepare the Journal entry. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List all debit entries before credit entries.) iction Account Titles and Explanation Debit Credit

Answer rating: 100% (QA)

Answer Here is the journal entry for the transactions provided Transaction 1 ... View the full answer