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Exercise 10-7 (Algo) Record issuance of stock and treasury stock transactions (LO10-2, 10-3, 10-4) The Clothing Cove has two classes of stock authorized: 9%,$10 par

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Exercise 10-7 (Algo) Record issuance of stock and treasury stock transactions (LO10-2, 10-3, 10-4) The Clothing Cove has two classes of stock authorized: 9%,$10 par preferred, and $1 par value common. The following transactions affect stockholders' equity during 2024, its first year of operations: January 2 Issues 100,600 shares of connon stock for $26 per share. February 6 Issues 2,100 shares of 9 k preferred stock for $11 per share. September 10 Purchases 11,000 shares of its om conton stock for $31 per share. Decenber 15 Resells 5,500 shares of treasury stock at $36 per share. Journal entry worksheet Record the issuance of 100,000 shares of common stock for $26 per share. Note: Enter debits before credits. Journal entry worksheet Record the issuance of 2,100 shares of 9% preferred stock for $11 per share. Note: Enter debits before credits. Journal entry worksheet Record the purchase of 11,000 shares of its own common stock for $31 per share. Note: Enter debits before credits. Journal entry worksheet Record the resale of 5,500 shares of treasury stock at $36 per share. Note: Enter debits before credits

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