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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
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Credit Cash $6,500
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Credit Additional Paid-In Capital $1,300
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Debit Preferred Stock $6,500
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Credit Preferred Stock $6,500
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