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Please help me with part B of this question ASAP before 11:30 pm: Tran Corporation is authorized to issue both preferred and common stock. The
Please help me with part B of this question ASAP before 11:30 pm:
Tran Corporation is authorized to issue both preferred and common stock. The par value of the preferred is $50. During the first year of operations, the company had the following events and transactions pertaining to its preferred stock. Feb. 1 Issued 20,000 shares for cash at $53 per share. July 1 Issued 12,000 shares for cash at $57 per share. Journalize the transactions. (List all debit entries before credit entries. Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Post to the stockholders' equity accounts. (Post entries in the order of journal entries presented in the previous part.)Step by Step Solution
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