On January 22, Ireland Corporation issued for cash 24,000 shares of no-par common stock at $40. On February 14, Ireland issued at par 4,000 shares of 3%, $60 par preferred stock for cash. On August 30, Ireland Corporation issued for cash 19,000 shares of preferred 3% stock, $60 par at $68.

Journalize the entries to record the January 22, February 14, and August 30 transactions.
For a compound transaction, if an amount box does not require an entry, leave it blank.

Answer rating: 100% (QA)

Solution Debit Credit Jan22 Cash 960000 Common stock ... View the full answer