31513 sold 200000 shares of 1 par common stock to investors

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Arizona has authorized 600,000 shares of common stock and 80,000 shares of prefered stock. Use journal entries for:

3/15/13 Sold 200,000 shares of $1 par common stock to investors at a price of $15 per share

3/20/13 Sold 25,000 shares of $100 par 8% prefered stock to investors at a price of $115 per share

4/1/13 Association purchased land with 50,000 shares of $1 par common stock. Market value of land was $800,000

4/22/13 Association purchased equipment with 1,000 shares of $100 par 8% prefered stock. Equipment market value was $175,000

Reference no: EM13571623

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