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Monty Corporation has 100,000 shares of 540 par value preferred stock authorized. During the year, it had the following transaction related to its preferred stock.

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Monty Corporation has 100,000 shares of 540 par value preferred stock authorized. During the year, it had the following transaction related to its preferred stock. 1) Issued 13.000 shares for equipment having a $900,000 asking price. The stock had a market value of $65 per share. Requirement: Journalize the transaction

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