Cullumber Company had the following transactions during the current period. Mar.2 Issued 4,000 shares of $5 par value common stock to attorneys in payment of a bill for $24,000 for services performed in helping the company to incorporate.
June12 Issued 55,000 shares of $5 par value common stock for cash of $340,000.
July 11 Issued 1,000 shares of $100 par value preferred stock for cash at $130 per share.
Nov.28 Purchased 1,500 shares of treasury stock for $75,000.

Required:
Journalize the transactions.

As the inventor of hypertension medication, onesure pharmaceuticals (osp) inc. was able to reap the benefits of economies of scale due to a large consumer demand for the drug. even when competitors later developed similar drugs after the expiry of osp's patents, regular users did not want to switch because they were concerned about possible side effects. which of the following benefits does this scenario best illustrate? a. first-mover advantages b. social benefits c. network externalities d. fringe benefits