Ivanhoe Company had these transactions during the current period. Issued 82,500 shares of $1 par value...

 

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Ivanhoe Company had these transactions during the current period. Issued 82,500 shares of $1 par value common stock for cash of $309,375. June 12 July 11 Issued 3,450 shares of $103 par value preferred stock for cash at $107 per share. Nov. 28 Purchased 2,650 shares of treasury stock for $8,450. Prepare the journal entries for the Ivanhoe Company transactions shown above. (Record journal e Entry" for the account titles and enter 0 for the amounts.) Account Titles and Explanation Date June 12 July 11 Nov. 28 Debit Credit Ivanhoe Company had these transactions during the current period. Issued 82,500 shares of $1 par value common stock for cash of $309,375. June 12 July 11 Issued 3,450 shares of $103 par value preferred stock for cash at $107 per share. Nov. 28 Purchased 2,650 shares of treasury stock for $8,450. Prepare the journal entries for the Ivanhoe Company transactions shown above. (Record journal e Entry" for the account titles and enter 0 for the amounts.) Account Titles and Explanation Date June 12 July 11 Nov. 28 Debit Credit

Answer rating: 100% (QA)

Journal Entries as asked Date Accounts Titles Debit Credit Jun12 Cash 82500 x 375 30937500 Common S... View the full answer