Entries for Issuing StockOn January 22, Limerick Corporation issued for cash 24,000 shares of no-par common stock at $40. On February 14, Limerick issued at par 5,000 shares of 5%, $50 par preferred stock for cash. On August 30, Limerick Corporation issued for cash 16,000 shares of preferred 5% stock, $50 par at $54.Journalize the entries to record the January 22, February 14, and August 30 transactions.For a compound transaction, if an amount box does not require an entry, leave it blank.Jan. 22       Feb. 14       Aug. 30

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Asked Nov 7, 2019
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Entries for Issuing Stock

On January 22, Limerick Corporation issued for cash 24,000 shares of no-par common stock at $40. On February 14, Limerick issued at par 5,000 shares of 5%, $50 par preferred stock for cash. On August 30, Limerick Corporation issued for cash 16,000 shares of preferred 5% stock, $50 par at $54.

Journalize the entries to record the January 22, February 14, and August 30 transactions.
For a compound transaction, if an amount box does not require an entry, leave it blank.

Jan. 22      
       
Feb. 14      
       
Aug. 30      
       
       
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Journal entry: Journal entry is a set of economic events which can be measured in mone...

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