- May 26, 2004
- 162
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On February 1 of the current year, Pace, Inc. issued 500 shares of $2 par common stock to an attorney in return for preparing and filing the articles of Incorporation. The value of the services is 7,500. Journalize this transaction.
Is this right??
Organizational expenses $7500
Common stock $1000
Cash $6500
Is this right??
Organizational expenses $7500
Common stock $1000
Cash $6500