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Corporation Problem-Journa1ize the following transactions in

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Corporation Problem-Journa1ize the following transactions in the space provided:
Decembe 1,Jenkins & Jones applied for and were granted a charter with authorization
to issue a:
1,000 shares of $100 par 12% Preferred Stock-100,000 Shares of $5 par common Stock
Decembe 5 Sold 5,000 shares of CommonStock at $6 Per share
Decembe 7 Sold all Preferred Stock at $160 Per share
Decembe 8 Sold S,OOOshares of CommonStock for $35,000
Decembe 15 Purchased 2,000 shares of Treasury Stock paying $12,000
December 17 Sold 1,000 shares of Treasury Stock for $7,000
December 27 The Board of Directors (BOD)declared a dividend of $SO,OOO
December 31 Closed the Income Swnmary account (credit balance) of $150,000
December 31 Closed the Dividend Acct
Submitted: 8 years ago.
Category: Homework
Expert:  Neo replied 8 years ago.
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