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Blossom Company issued 4000 shares of its $5 par value common stock having a fair value of $20 per share and 6500 shares of its
Blossom Company issued 4000 shares of its $5 par value common stock having a fair value of $20 per share and 6500 shares of its $10 par value preferred stock having a fair value of $20 per share for a lump sum of $252000. The proceeds allocated to the preferred stock is $96000 $130000 $156000 $131560
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