Prepare the journal entry to record Tamas Company's issuance ef $5.90$ shares of $$100$ por vakue, Bys cumukative preterred stopk for $$103$ cash per share.

Assuming the facts in part $1,$ if Tamas dectares a yoar$-$end cash daldend, what is the amount of diaderid balid to breferred shareholders? $($Assume no dividends in arrears.$)$

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Prepare the journal entry to record Tamas Company's lesuance o $5,300$ shares of $$100$ par value, $8\%$ cumulative preferred stock for $$103$ cash per share.

Journal entry worksheet

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Record the issuance of $5,300$ shares of $$100$ par value, $8\%$ cumulative preferred stock for $$103$ cash per share.

Note: Enter debits before credits.