Bostick Co. had the following transactions during the current period. Mar. 2 Issued 4,000 shares of...

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Bostick Co. had the following transactions during the current period. Mar. 2 Issued 4,000 shares of $1 par value common stock to attorneys in payment of a bill for $35,000 for services performed in helping the company to incorporate. June 12 Issued 50,000 shares of $1 par value common stock for cash of $360,000. July 11 Issued 2,000 shares of $100 par value preferred stock for cash at $120 per share. Nov. 28 Purchased 2,000 shares of treasury stock for $70,000. Required. Journalize the transactions. Bostick Co. had the following transactions during the current period. Mar. 2 Issued 4,000 shares of $1 par value common stock to attorneys in payment of a bill for $35,000 for services performed in helping the company to incorporate. June 12 Issued 50,000 shares of $1 par value common stock for cash of $360,000. July 11 Issued 2,000 shares of $100 par value preferred stock for cash at $120 per share. Nov. 28 Purchased 2,000 shares of treasury stock for $70,000. Required. Journalize the transactions.

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Journal Entries Date Account Debit Credit Mar 2 Organization expenses 35000 ... View the full answer