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Journal entries for the preceding transactions

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Miles Co. had these transactions during the current period. June 12 Issued 50,000 shares of $3 stated value common stock for cash of $250,000. July 11 Issued 2,000 shares of $100 par value preferred stock for cash at $108 per share. Nov. 28 Purchased 2,000 shares of treasury stock for $10,000. Prepare the journal entries for the preceding transactions. (Cr Jun-12 Cash Dr 250000 Common Stock Cr 150000

Reference no: EM13974422

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