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Question 9 6 pts Retro Company is authorized to issue 10,000 shares of 8%, $100 par value preferred stock and 500,000 shares of no-par common
Question 9 6 pts Retro Company is authorized to issue 10,000 shares of 8%, $100 par value preferred stock and 500,000 shares of no-par common stock with a stated value of $1 per share. Retro issues 7,000 shares of preferred stock for land with an asking price of a market value of $770,000. Prepare the journal entry to record the issuance of stock. B IV A. A. IX E XIX XE - VTT 12pt Paragraph
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