Prepare journal entries for the following stock

Reference no: EM13606808

Prepare journal entries for the following stock transactions of Gamma Systems: April 19- issued 1,000 shares of $1 par common stock for cash of $10.50 per share. May 3- sold 300 shares of $4.50, no-par preferred stock for $15,000 cash. May 11- received inventory valued at $23,000 and equipment with a market value of $11,000. issued 3,000 shares of the $1 par common stock.

Reference no: EM13606808

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