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Question 3 (6 Points): A1, C1, D3 SALAM Corporation issued 5,000 shares of $10 par value common stock upon conversion of 1,000 shares of $50

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Question 3 (6 Points): A1, C1, D3 SALAM Corporation issued 5,000 shares of $10 par value common stock upon conversion of 1,000 shares of $50 par value preferred stock. The preferred stock was originally issued at $110 per share. Instruction: prepare the journal entry at conversion

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