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Culver Corporation is authorized to issue both preferred and common stock. The par value of the preferred is $50. During the first year of operations,
Culver Corporation is authorized to issue both preferred and common stock. The par value of the preferred is $50. During the first year of operations, the company had the following events and transactions pertaining to its preferred stock
Feb 1 Issued 21,000 shares for cash at $57 per share
July 1 Issued 12,500 shares for cash at per share.
Journalize the transactions
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