Essay
Prepare the necessary journal entry for each of the following transactions for Renfro Corporation.
(a) Issued 2,000 ordinary shares with a $5 par value for $16 per share.
(b) Issued 5,000 shares for land advertised for sale at $80,000. Renfro's shares are actively traded at a market price of $15 per share.
Correct Answer:
Verified
Correct Answer:
Verified
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