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Lily Company had the following transactions. 1. Issued 4,900 shares of common stock with a stated value of $10 for $135,000. 2. Issued 3,000 shares

Lily Company had the following transactions. 1. Issued 4,900 shares of common stock with a stated value of $10 for $135,000. 2. Issued 3,000 shares of $100 par preferred stock at $106 for cash

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