Acc557 Financial Accounting: E11-7 Fallow Co. had the following transactions during

Acc557 Financial Accounting

Exercise 11-7
Fallow Co. had the following transactions during the current period.
Mar. 2 Issued 5,000 shares of $1 par value common stock to attorneys in payment of a bill for $38,000 for services provided in helping the company to incorporate.
12-Jun Issued 60,000 shares of $1 par value common stock for cash of $475,000.
11-Jul Issued 1,000 shares of $100 par value preferred stock for cash at $110 per share.
Nov. 28 Purchased 2,000 shares of treasury stock for $18,000.

Journalize the transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
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