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I need all three journal entry worksheets filled out King Corporation began operations in January of the current year. The charter authorized the following stock:
I need all three journal entry worksheets filled out
King Corporation began operations in January of the current year. The charter authorized the following stock: Preferred stock: 10 percent, $10 par value, 41,800 shares authorized Common stock: $5 par value, 85,200 shares authorized During the current year, the following transactions occurred in the order given: a. Issued 22,500 shares of common stock for $9 per share. b. Sold 7,900 shares of the preferred stock at $20 per share. c. Sold 1,300 shares of the preferred stock at $20 per share and 3,500 shares of common stock at $10 per share. Required: Provide the journal entries required to record each of the transactions in (a) through (c). (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Issued 22,500 shares of common stock for $9 per share. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journalStep by Step Solution
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