On July 1, 2019, Parkside, Inc. issues 10,000 shares of $10 par value preferred stock at $100 cash per share and 20,000 shares of $2 par value common stock at $50 cash per share.
What is the journal entry to record these transactions?

Question

On July 1, 2019, Parkside, Inc. issues 10,000 shares of $10 par value preferred stock at $100 cash per share and 20,000 shares of $2 par value common stock at $50 cash per share. 
What is the journal entry to record these transactions?

Quizplus · Accepted Answer

The Answer of On July 1, 2019, Parkside, Inc. issues 10,000 shares of $10 par value preferred stock at $100 cash per share and 20,000 shares of $2 par value common stock at $50 cash per share. 
What is the journal entry to record these transactions?