Kingbird, Inc. had the following transactions during the current period. 

Mar. 2 Issued 4,000 shares of $5 par value common stock to attorneys in payment of a bill for $26,400 for services performed in helping the company to incorporate. 

June 12 Issued 55.000 shares of $5 par value common stock for cash of $343,750. 

July 11 Issued 1,000 shares of $100 par value preferred stock for cash at $111 per share. 

Nov. 28 Purchased 2,000 shares of treasury stock for $80,000. 

Journalize the transactions.

Answer rating: 100% (QA)

Account Debit Credit Mar 2 Organization expense 26400 Common stock ... View the full answer