NOTE - part A is done B is pending

Current Attempt in Progress

On March 8, Daschen Inc., a publicly traded company, issued 4,300 preferred shares for cash of $30 per share. On April 20, when the shares were trading at $35, the company issued an additional 2,500 preferred shares in exchange for land with a fair value of $93,500.

(a)

Correct answer iconYour answer is correct.

Prepare the journal entries for each transaction. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Date	Account Titles and Explanation	Debit	Credit
choose a transaction date Mar. 8April 20	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
choose a transaction date Mar. 8April 20	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount

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List of Accounts

Attempts: 1 of 3 used

(b)

Prepare the journal entry if you were unable to determine the lands fair value on April 20. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Date	Account Titles and Explanation	Debit	Credit
April 20	enter an account title for the journal entry on April 20	enter a debit amount	enter a credit amount
	enter an account title for the journal entry on April 20	enter a debit amount	enter a credit amount