Question 5Wildhorse Corporation issued 398 shares of $10 par value com


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Question 5Wildhorse Corporation issued 398 shares of $10 par value common stock and 120 shares of $50 par value preferred stock for a lump sum of $16884

Sale price $15.00 Regular price $30.00

Question 5Wildhorse Corporation issued 398 shares of $10 par value

common stock and 120 shares of $50 par value preferred stock for a lump sum of $16884. The common stock has a market price of $20 per share, and the preferred stock has a market price of $90 per share.


Prepare the journal entry to record the issuance. (Round intermediate calculations to 6 decimal places, e.g. 0.546872 and final answers to 0 decimal places, e.g., 1,520. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)


Account Titles and Explanation
Debit
Credit

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