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Cole Corporation issues 15,000 shares of $50 par value preferred stock for cash at $60 per share. The entry to record the transaction will consist
Cole Corporation issues 15,000 shares of $50 par value preferred stock for cash at $60 per share. The entry to record the transaction will consist of a debit to Cash for $900,000 and a credit or credits to Select one: O a. Paid-in Capital from Preferred Stock for $900,000. b. Preferred Stock for $750,000 and Paid-in Capital in Excess of Par Value-Preferred Stock for $150,000 c. Preferred Stock for $900.000 d Preferred Stock for $750,000 and Paid-in Capital from Preferred Stock for $150,000
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