Equinox Outdoor Wear issues $1,000$ shares of its $$0\mathrm{.}01$ par value preferred stock for cash at $$27$ per share.

Record the issuance of the preferred shares. $($If no entry is required for a particular transaction$/$event$,$ select $"$No Journal Entry Required" in the first account field.$)$

Journal entry worksheet

$1$

Record the issuance of preferred stock.

Note: Enter debits before credits.

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