Fallow Co had the following transactions during the current period Mar 2 Issued 5,000 shares of $1 par value common stock to attorneys in payment of a bill for $38,000 for services provided in helping the company to incorporate June 12 Issued 60,000 shares of $1 par value common stock for cash of $475,000 July 11 Issued 1,000 shares of $100 par value preferred stock for cash at $110 per share Nov 28 Purchased 2,000 shares of treasury stock for $18,000 Instructions Journalize the transactions

Question: Fallow Co. had the following transactions during the current period. Mar. 2 Issued 5,000 shares of $1 par value common stock to attorneys in payment

Fallow Co. had the following transactions during the current period.
Mar. 2 Issued 5,000 shares of $1 to attorneys in payment of a bill for $38,000 for services provided in helping the company to incorporate.
June 12 Issued 60,000 shares of $1 for cash of $475,000.
July 11 Issued 1,000 shares of $100 preferred stock for cash at $110 per share.
Nov. 28 Purchased 2,000 shares of treasury stock for $18,000.

Instructions
Journalize the transactions.

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