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On March 1, 2021, Albany Company issued 2,500 shares of its $5 par common stock and 6,000 shares of its $8 par preferred stock for
- On March 1, 2021, Albany Company issued 2,500 shares of its $5 par common stock and 6,000 shares of its $8 par preferred stock for a lump sum of $180,000. At this date Albany common stock was selling for $32 per share and the preferred stock for $24 per share. The amount of the proceeds allocated to Albanys APIC-PS should be?
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Intermediate Accounting
Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones
10th Edition
324300980, 978-0324300987
