Hiro Corp. issues 1,000 $5 par value ordinary shares and 1,000 $20 par value preference shares for
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Question:
Hiro Corp. issues 1,000 $5 par value ordinary shares and 1,000 $20 par value preference shares for a lump sum of $60,000. At the issue date, the ordinary shares were selling for $36 and the preference shares were selling for $28.
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