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I only need help with the right side! King Corporation began operations in January of the current year. The charter authorized the following stock: Preferred
I only need help with the right side!
King Corporation began operations in January of the current year. The charter authorized the following stock: Preferred stock: 10 percent, $12 par value, 40,000 shares authorized Common stock: $7 par value, 85,200 shares authorized During the current year, the following transactions occurred in the order given: a. Sold 23,200 shares of common stock for $11 per share. b. Sold 7,800 shares of the preferred stock for $22 per share. c. Sold 1,800 shares of the preferred stock for $22 per share and 3,400 shares of common stock for $12 per share. Required: Provide the journal entries required to record each of the transactions in (a) through (c). Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account fieldStep by Step Solution
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