Masaya Masagana Corporation (MMC) on December 31, 2021 was authorized to issue 200,000 Ordinary Shares for P25 par value of which 80% were already issued and 15% of the issued shares were in the treasury? On January 10, 2022, 10% shares were subscribed by Gratis Grandeur Corporation (GGC) at P27 per share for four (4) equal installments starting February 10 and every 10th day of the succeeding months? What is the entry to record the subscription on January 10, 2022?

Answer rating: 100% (QA)

The subscription of shares by Gratis Grandeur Corporation GGC on January 10 2022 can be recorded wit... View the full answer