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PLEASE HELP ASAP Our company is authorized to issue 10,000 shares of $50 par value preferred stock. On August 21 we issued 3,000 shares for
PLEASE HELP ASAP
Our company is authorized to issue 10,000 shares of $50 par value preferred stock. On August 21 we issued 3,000 shares for $55 per share. What account(s) and amount(s) would we credit when we record the journal entry for this transaction? cash, $165,000 preferred stock, $150,000; and paid in capital in excess of par value, $15,000 preferred stock, $500,000; and paid in capital in excess of par value, $50,000 preferred stock, $165,000 Question 4 4 pts On September 12, our company purchased 2,000 shares of the company's $1 par value common stock as treasury stock, paying $9cash. What account(s) and amount(s) would we debit when we record the journal entry for this transaction? cash,$2,000 common stock, $18,000 treasury stock, $18,000 treasury stock, $2.000 Step by Step Solution
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