Mallari, Inc. has been authorized to issue 125,000 shares of P10 par ordinary shares. The following...

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Mallari, Inc. has been authorized to issue 125,000 shares of P10 par ordinary shares. The following 2006 transactions relate to the initial issuance of Mallari share: Feb. 1 15 Mar. 1 19 Apr. 1 Mallari sold subscriptions for 25,000 shares of stock. The shares have a subscription price of P15 per share. One-third of the subscription price was received as a down payment. Mallari sold 10,000 shares for P180,000. An installment amounting to one-third of the subscription price was received. Mallari exchanged 200 shares of stock for a new two-way radio- system having a fair market value of P3,800. The final one-third of the subscription price was received and the share issued. Required: Prepare journal entries to record the transactions. Mallari, Inc. has been authorized to issue 125,000 shares of P10 par ordinary shares. The following 2006 transactions relate to the initial issuance of Mallari share: Feb. 1 15 Mar. 1 19 Apr. 1 Mallari sold subscriptions for 25,000 shares of stock. The shares have a subscription price of P15 per share. One-third of the subscription price was received as a down payment. Mallari sold 10,000 shares for P180,000. An installment amounting to one-third of the subscription price was received. Mallari exchanged 200 shares of stock for a new two-way radio- system having a fair market value of P3,800. The final one-third of the subscription price was received and the share issued. Required: Prepare journal entries to record the transactions.