Penne Pharmaceuticals sold 16 million shares of its $1 par common stock to provide funds for...

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Penne Pharmaceuticals sold 16 million shares of its $1 par common stock to provide funds for research and development. If the issue price is $13 per share, what is the journal entry to record the sale of the shares? Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (l.e., 10,000,000 should be entered as 10). View transaction list Journal entry worksheet 1 Record the sale of the shares. Note: Enter debits before credits Event General Journal Debit Credit Penne Pharmaceuticals sold 16 million shares of its $1 par common stock to provide funds for research and development. If the issue price is $13 per share, what is the journal entry to record the sale of the shares? Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (l.e., 10,000,000 should be entered as 10). View transaction list Journal entry worksheet 1 Record the sale of the shares. Note: Enter debits before credits Event General Journal Debit Credit