Fernando Corporation is authorized to issue 400,000 shares of 85 par value ordinary shares.

Journalize the following transactions.

Feb. 10 Sold 75,000 shares of ordinary shares at $86 par share, received cash.

27 Issued 21,500 shares of ordinary shares in exchange for land with a FMV of 920000 and a
building with a FMV of 1,087,500

Mar. 3 Sold 28,000 shares of ordinary shares at $86.50 per share received cash.

Fernando Corporation is authorized to issue 400,000 shares of 85 par value ordinary shares.

Journalize the following transactions.

Feb. 10 Sold 75,000 shares of ordinary shares at $86 par share, received cash.

27 Issued 21,500 shares of ordinary shares in exchange for land with a FMV of 920000 and a
building with a FMV of 1,087,500

Mar. 3 Sold 28,000 shares of ordinary shares at $86.50 per share received cash.