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A company is authorized to issue 50,000 shares of $50 par value, 8%, cumulative, fully participating preferred stock and 750,000 shares of $5 par value
A company is authorized to issue 50,000 shares of $50 par value, 8%, cumulative, fully participating preferred stock and 750,000 shares of $5 par value common stock. Prepare journal entry to record the fallowing selected transactions that occurred during the company`s first of operations
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