Journalize the following transactions -33. Mega Sales is authorized to issue...
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Accounting
Journalize the following transactions
-33. Mega Sales is authorized to issue 100,000 shares of $100 par, 2% preferred stock and 1,000,000 shares of $10 par common stock. (a) On January 2nd Mega Sales issues 5,000 shares of preferred stock for $105 per share and 65,000 shares of common stock at $10 per share. Journalize this issuance. (b) On January 25 th Mega Sales issued 250 shares of preferred stock to a CPA/Law firm for settlement of an invoice for incorporation services. The invoice was for $30,000.00. Journalize this issuance. (c) On January 31 st Mega Sales issues 500 shares of common stock to SOD for fixtures. The fixtures have a fair market value of $6,500.00. Journalize this issuance
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