Question

Exercise 13-5 Quay Co. had the following transactions during the current period. Mar. 2 Issued 5,000 shares of $5 par value common stock to attorneys in payment of a bill for $29,400 for services performed in helping the company to incorporate. June 12 Issued 58,300 shares of $5 par value common stock for cash of $362,400. July 11 Issued 1,025 shares of $100 par value preferred stock for cash at $130 per share. Nov. 28 Purchased 2,520 shares of treasury stock for $78,000. Journalize the 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.) Date Account Titles and Explanation Debit Credit Mar. 2June 12July 11Nov. 28 Mar. 2June 12July 11Nov. 28 Mar. 2June 12July 11Nov. 28 Mar. 2June 12July 11Nov. 28