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please help with a & b ? Blossom Inc. issues 500 shares of $10 par value common stock and 100 shares of $100 par value
please help with a & b ?
Blossom Inc. issues 500 shares of $10 par value common stock and 100 shares of $100 par value preferred stock for a lump sum of $123,000 3. Prepare the journal entry for the issuance when the market price of the common shares is $171 each and market price of the preferred is $214 each. b. Prepare the journal entry for the issuance when only the market price of the common stock is known and it is $216 per share. (List all debit entries before credit entries. Do not round intermediate calculations. Round final answers to 0 decimal places, eg. 1,225, Credit account titles are automatically indented when the amount is entered. Do not indent manuolly. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Step by Step Solution
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