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Aleks [24]
3 years ago
9

In order to encourage employee ownership of the company’s $1 par common shares, Washington Distribution permits any of its emplo

yees to buy shares directly from the company through payroll deduction. There are no brokerage fees and shares can be purchased at a 8% discount. During March, employees purchased 65,000 shares at a time when the market price of the shares on the New York Stock Exchange was $28 per share.Required:Prepare the appropriate journal entry to record the March purchases of shares under the employee share purchase plan. (If no entry is required for an event, select "No journal entry required" in the first account field.)

Business
1 answer:
Shtirlitz [24]3 years ago
6 0

Answer

The answer and procedures of the exercise are attached in the following archives.

Step-by-step explanation:

You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.  

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