On April 28, 2021, Fineline Co. accepted subscriptions for 10,000 of its no-par value common shares. At this time, shares were selling for $45 each. Fineline received a 40% down payment on April 28, with the remainder due in six months. On October 28, the balance of the subscription price was received and the shares were issued. (4 marks)
Required:

Prepare the journal entries required on April 28 and October 28, 2021.

 

Answer rating: 100% (QA)

Date Apr 28 2021 October 28 2021 Jo... View the full answer