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Prepare the stock activity of Backdrop Corporation during the year 2020 as a journal entry. Issued 10,000 shares of Preferred Stock, 5.5% of $100 par

Prepare the stock activity of Backdrop Corporation during the year 2020 as a journal entry.

Issued 10,000 shares of Preferred Stock, 5.5% of $100 par value for $125 cash per share.

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