Prepare entries to record the transactions for Maine Corp.:
(a)Issued 2,000 shares of $10 par common stock at $72 for cash.(b)Issued 2,500 shares of common stock in exchange for land with a fair market price of $130,000.(c)Purchased 400 shares of treasury stock at $70.(d)Sold the 400 shares of treasury stock purchased in (c) at $76.

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The Answer of Prepare entries to record the transactions for Maine Corp.:
(a)Issued 2,000 shares of $10 par common stock at $72 for cash.(b)Issued 2,500 shares of common stock in exchange for land with a fair market price of $130,000.(c)Purchased 400 shares of treasury stock at $70.(d)Sold the 400 shares of treasury stock purchased in (c) at $76.

Prepare Entries to Record the Transactions for Maine Corp