E $18-9$ New equity issues; offerings announcements $$ LO$18-4$

When companies offer new equity security issues, they publicize the offerings in the financial press and on Internet

sites. Assume the following were among the equity offerings reported in December $2024$:

New Securities Issues

Equity

American Materials Transfer Corporation $($AMTC$)-7\mathrm{.}5$ million common shares, $$\mathrm{.}001$ par, priced at

$$13\mathrm{.}546$ each through underwriters led by Second Tennessee Bank N$.$A$.$ and Morgan, Dunavant & Co$.,$

according to a syndicate official.

Proactive Solutions Inc. $($PSI$)-$Offering of $9$ million common shares, $$0\mathrm{.}01$ par, was priced at $$15\mathrm{.}20$ a

share via lead manager Stanley Brothers, Inc., according to a syndicate official.

Required:

Prepare the appropriate journal entries to record the sale of both issues to underwriters. Ignore share issue costs.