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can you please solve this Buffalo Ltd. issues 8,700. Scumulative preferred shares at $62 each and 15,000 common shares at $30 ench at the beginning
can you please solve this
Buffalo Ltd. issues 8,700. Scumulative preferred shares at $62 each and 15,000 common shares at $30 ench at the beginning of 2019. Each preferred share is convertible into two common shares. During the years 2020 and 2021, the following transactions affected Buffalo's shareholders' equity accounts 2020 Jan 10 Paid $11,000 of annual dividends to preferred shareholders. 2021 Jan 10 Paid annual dividend to preferred shareholders and a $3.400 dividend to common shareholders. Mar. 1 The preferred shares were converted into common shares (a) Joumalize each of the transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts) Debit Credit Date Account Titles and Explanation 2020 Jan. 10 To record preti d share dividend. Date Account Titles and Explanation 2021 Debit Credit To record common and preferred share dividende Mer. 1 To record conversion of shares)Step by Step Solution
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