Marianna Corporation is authorized to issue 100-000 shares of $5 state.docx

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Marianna Corporation is authorized to issue 100,000 shares of $5 stated par value stock and 2,000 shares of $100 par value, 6 percent preferred stock. Prepare journal entries in journal form without explanations to record the following transactions: July 15 Issued 1,000 shares of common stock to an attorney for a bill of $7,000 for services rendered. 7000 July 25 Issued 2,000 shares of preferred stock for cash of $120 per share. July 27 Issued 10,000 shares of common stock in exchange for land for a plant site valued at $75,000. Aug. 1 Issued 5,000 shares of common stock for $35,000 in cash. Solution Journal Entries .

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