c3 prepare the issuer s journal entry for each separate transaction a on march 1 atl 560806

C3 Prepare the issuer’s journal entry for each separate transaction. (a) On
March
1,
Atlantic
Co.
issues
42,500
sharesof
$4
par
value
common
stockfor
$297,500
cash. (b) On April
1, OP
Co.
issuesno
par
value
common
stockfor $70,000
cash. (c) On April 6, MPG
issues2,000
sharesof $25
par
value
common
stockfor $45,000 of inventory, $145,000 of machinery, and acceptance of a $94,000 note payable.

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