Problem 7-4. No Par Value Shares with stated value Prepare the Memorandum Entry Method June 1 Fix Corporation was incorporated on June 1, 2014 and was authorized to issue 1,000 no journal entries (without explanations) to record the foregoing facts using the par value common shares. The Board of Directors assigned a stated value at P100 June 2 Armando bought 100 shares at P110 per share and paid cash. Stock certificate was June 3 June 4 une 5 Doroy subscribed 200 shares. Dorong offered to pay using an equipment which is issued Boyet subscribed 100 shares at P110 per share and paid 50% in cash and the balance to be paid on June 23 Kiko subscribed 100 shares at P105 to be paid in two equal installments; the first installment is on June 24 and the second installment will be on July 4 currently worth P25,000. The corporation agreed. Dorong delivered the equipment this day and a stock certificate was issued. Boyet paid the balance in full. The stock certificate was issued June 23 June 24 June Kiko paid the first installment of her subscription Atty. Daldal was collecting for his legal services worth P15,000. He consented to be paid 25 with 120 shares of stocks. A stock certificate for 120 common shares was issued