[Solved] Oriole Corporation issued325shares of $10

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Oriole Corporation issued325shares of $10par value common stock and155shares of $50par value preferred stock for a lump sum of $19,800. The common stock has a

Oriole Corporation issued325shares of $10par value common stock and155shares of $50par value preferred stock for a lump sum of $19,800. The common stock has a market price of $20per share, and the preferred stock has a market price of $100per share.

Prepare the journal entry to record the issuance.

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