During its first year of operations, Endevor Corporation had the following transactions pertaining to its common stock. Apr. 26 Issued 15,000 shares for cash at
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Question
During its first year of operations, Endevor Corporation had the following transactions pertaining to its common stock. Apr. 26 Issued 15,000 shares for cash at $4.50 per share. May 11 Issued 10,000 shares to attorneys in payment of a bill for $48,000 for services rendered in helping the company to incorporate. Aug. 1 Issued 20,000 shares for cash at $5 per share. Nov. 1 Issued 10,000 shares for cash at $7 per share. Prepare the journal entries for these transactions, assuming that the common stock is no par with a stated value of $3 per share.