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Metlock, Inc. issues 28000 shares of $50 par value preferred stock for cash at $75 per share. In the stockholders' equity section, the effects of

Metlock, Inc. issues 28000 shares of $50 par value preferred stock for cash at $75 per share. In the stockholders' equity section, the effects of the transaction above will be reported

A entirely under the retained earnings section.

B under both the capital stock and additional paid-in capital sections.

C entirely within the capital stock section.

D entirely within the additional paid-in capital section.

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