Question: Practice Problem #1 COMMON STOCK 2 journal entries 20 points The following transactions pertain to Linton Corp.: 3-Jan The company issued common stock for cash.

Practice Problem

#1 COMMON STOCK 2 journal entries 20 points The following transactions pertain to Linton Corp.: 3-Jan The company issued common stock for cash. Number of shares issued 150,000 Par value per share $5 Market price per share $15 10-Feb The company issued common stock in exchange for land that is advertised for sale at a price of $200,000. The stock is actively traded. Number of shares issued 10,000 Par value per share $5 Market price per share $15 Instructions: Prepare the journal entries for these two transactions.

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