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Kingbird Corporation issued 480 shares of $100 par value preferred stock for $60,200. Prepare Kingbird's journal entry. (Credit account titles are automatically indented when amount

Kingbird Corporation issued 480 shares of $100 par value preferred stock for $60,200.

Prepare Kingbird's journal entry. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Account Titles and Explanation Debit Credit

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