(Solution) - Prepare the issuer s journal entry for each separate transaction -(2025 Original AI-Free Solution)

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Academic Level: Undergrad. (yrs 3-4)

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Prepare the issuer?s journal entry for each separate transaction.
(a) On March 1, Edgar Co. issues 44,500 shares of $4 par value common stock for $255,000 cash.
(b) On April 1, GT Co. issues no-par value common stock for $50,000 cash.
(c) On April 6, MTV issues 2,000 shares of $20 par value common stock for $35,000 of inventory, $135,000 of machinery, and acceptance of an $84,000 note payable.