Exercise 11-2

Your answer is correct.

Dukas Co. had these transactions during the current period.

June 12

Issued 88,000 shares of $1 par value common stock
for cash of $330,000.

July 11

Issued 2,890 shares of $103 par value preferred
stock for cash at $105 per share.

Nov. 28

Purchased 2,340 shares of treasury stock for
$7,940.

Prepare the journal entries for the Dukas Co. transactions shown
above. (Record entries in the order displayed in the
problem statement. Credit account titles are automatically indented
when amount is entered. Do not indent manually.)