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A company issued 1,400 shares of $7 par value preferred stock for $8 per share. What is true about the Journal entry to record the

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A company issued 1,400 shares of $7 par value preferred stock for $8 per share. What is true about the Journal entry to record the issuance? Multiple Choice Credit Preferred Stock $11.200 Credit Additional Paid In Capital $1400 Credit Cash $11.200 Debit Preferred Stock $11.200

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