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Prepare the issuer journal entry for each transactions

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Problem 1: Prepare the issuer's journal entry for each of the following separate transactions.

1. On March 1, Atlantic Co. issues 50,000 shares of $5 par value common stock for $320,000 cash.

2. On April 1, OP Co. issues no-par value common stock for $85,000 cash.

3. On April 6, MPG issues 3,500 shares of $25 par value common stock for $54,000 of inventory, $160,000 of machinery, and acceptance of a $90,000 note payable.

Reference no: EM132824043

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