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Record the above transactions in general journal form

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Question - During its first year of operations, Cole's Electronics Inc. completed the following transactions relating to shareholders' equity.

January 5: Issued 2,000,000 shares of common stock for $35 per share. February 12: Issued 30,000 shares of common stock to accountants for $1,050,000 of professional services.

The articles of incorporation authorize 5,000,000 shares of common stock with a par of $1 per share and 1,000,000 preferred shares with a par of $100 per share.

Required - Record the above transactions in general journal form.

Reference no: EM132597174

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