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Journalize the transactions for ergonomics supply inc

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Ergonomics Supply Inc., a wholesaler of office products, was organized on July 1 of the current year, with an authorization of 125,000 shares of 2% preferred stock, $40 par and 500,000 shares of $20 par common stock. The following selected transactions were completed during the first year of operations:

Problem 1: Journalize the transactions.

July 1. Issued 125,000 shares of common stock at par for cash.

Reference no: EM132936376

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