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If a corporation sells 400 shares of 12 percent, $100 par-value preferred stock for $105 a share, the entry to record the transaction will include
If a corporation sells 400 shares of 12 percent, $100 par-value preferred stock for $105 a share, the entry to record the transaction will include a credit of $____.00 to the Preferred Stock account.
42,000
40,000
4,000
2,000
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