51) Prepare the journal entries for Mayhem Manufacturing:
June 10 Incurred organization costs totaling $7,500
June 14Issued 10,000 shares of $11 par value common stock for $120,000
June 22Issued 3,000 shares of 7%, $30 par value preferred stock for $120,000
52) Prepare the journal entries for Mayhem Manufacturing:
July 21Issued 7,000 shares of $10 par common stock for $85,000.
July 29Issued 2,500 shares of 7%, $35 par preferred stock for equipment with a fair market value of $95,000.
