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10-07-2020
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A company issued 70 shares of $30 par value preferred stock for $4,000 cash. The journal entry to record the issuance is:

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fridacollins4452 fridacollins4452

10-07-2020

-Debit cash $4,000
-credit paid-in capital excess par value $1,900
-credit preferred stock $2,100

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