Crane Company had these transactions during the current period. June 12 Issued 79,500 shares of $1...

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Crane Company had these transactions during the current period. June 12 Issued 79,500 shares of $1 par value common stock for cash of $298,125. July 11 Issued 3,650 shares of $100 par value preferred stock for cash at $104 per share. Nov. 28 Purchased 3,200 shares of treasury stock for $14,400. Prepare the journal entries for the Crane Company transactions. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually. List all debit entries before credit entries. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation Debit Credit Crane Company had these transactions during the current period. June 12 Issued 79,500 shares of $1 par value common stock for cash of $298,125. July 11 Issued 3,650 shares of $100 par value preferred stock for cash at $104 per share. Nov. 28 Purchased 3,200 shares of treasury stock for $14,400. Prepare the journal entries for the Crane Company transactions. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually. List all debit entries before credit entries. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation Debit Credit

Answer rating: 100% (QA)

SOLUTION June 12 Cash 298125 Common Stock 79500 x 1 7... View the full answer