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A company issued 1,300 shares of $4 par value preferred stock for $5 per share. What is true about the journal entry to record the

A company issued 1,300 shares of $4 par value preferred stock for $5 per share. What is true about the journal entry to record the issuance?

Multiple Choice

  • Credit Cash $6,500

  • Credit Additional Paid-In Capital $1,300

  • Debit Preferred Stock $6,500

  • Credit Preferred Stock $6,500

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