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Fat Tuesday Company issued 100,000 shares of 5%, $25 par Preferred Stock in exchange at $30 per share. How much will be credited to Paid-in

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Fat Tuesday Company issued 100,000 shares of 5%, $25 par Preferred Stock in exchange at $30 per share. How much will be credited to Paid-in Capital in Excess of Par-Preferred Stock? $5,000 $500,000 $2,500,000 $25,000

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