Prepare the journal entries for the sagan co transactions

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Reference no: EM131831247

Question: Sagan Co. had these transactions during the current period.

June 12 Issued 80,000 shares of $1 par value common stock for cash of $300,000.

July 11 Issued 3,000 shares of $100 par value preferred stock for cash at $106 per share.

Nov. 28 Purchased 2,000 shares of treasury stock for $9,000.

Instructions: Prepare the journal entries for the Sagan Co. transactions.

Reference no: EM131831247

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