There are no brokerage fees and shares can be purchased at a 10% discount. During March, employees purchased 35,000 shares at a time when the market price of the shares on the New York Stock Exchange was $16 per share. 1.75 points 02:34:48 eBook B Hint Print References Required: Prepare the appropriate journal entry to record the March purchases of shares under the employee share purchase plan. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. View transaction list No 1 Event 1 View journal entry worksheet Cash General Journal Compensation expense Common stock Paid-in capital - excess of par Debit 504,000 56,000 Credit 35,000 525,000 ******** Ⓒ ………..
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