On March 1, Bramble Inc. sells 1,100 common shares to its employees at $23 per share and lends the money to the employee

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On March 1, Bramble Inc. sells 1,100 common
shares to its employees at $23 per share and lends the money
to the employees to buy the new shares in exchange for a note
receivable. The employees pay 45% of the price on the
transaction date and pay the balance in one year.

(a)

Prepare the company’s necessary journal entry on March
1. (Credit account titles are automatically
indented when the amount is entered. Do not indent
manually.)
Date
Account Titles and Explanation
Debit
Credit
Mar. 1
select an account title for the journal entry on March 1
enter a debit amount
enter a credit amount
select an account title for the journal entry on March 1
enter a debit amount
enter a credit amount
select an account title for the journal entry on March 1
enter a debit amount
enter a credit amount