Question
Dan Corp issues 500 of 10%, $100 par value preferred stock to attorneys who helped the company organize. Attorneys valued their service at $130,000. Preferred
Dan Corp issues 500 of 10%, $100 par value preferred stock to attorneys who helped the company organize. Attorneys valued their service at $130,000. Preferred Stock should be recorded as: *
Debit $100,000
Credit $100,000
Debit $50,000
Credit $50,000
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