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A company issued 1,400 shares of $6 par value preferred stock for $7 per share. What is true about the journal entry to record the

A company issued 1,400 shares of $6 par value preferred stock for $7 per share. What is true about the journal entry to record the issuance? Multiple Choice Credit Preferred Stock $9,800 Debit Preferred Stock $9,800 Credit Cash $9,800 Credit Additional Paid-In Capital $1,400image text in transcribed

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