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Fallow Co 5000

Price: $1.99


E11-7 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.

June 12 Issued 60,000 shares of $1 par value common stock for cash of $475,000.

July 11 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.

Instructions
Journalize the transactions.

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