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Record the issuance of 100,000 shares of common stock for $22 per share. Record the issuance of 1,700 shares of 9% preferred stock for $11

Record the issuance of 100,000 shares of common stock for $22 per share.

Record the issuance of 1,700 shares of 9% preferred stock for $11 per share.

Record the purchase of 11,000 shares of its own common stock for $27 per share.

Record the resale of 5,500 shares.image text in transcribed

A company has two classes of stock authorized: 9%, $10 par preferred, and $1 par value common. The following transactions affect stockholders' equity during Year 1, its first year of operations: January 2 Issues 100,000 shares of common stock for $22 per share. February 6 Issues 1,700 shares of 9% preferred stock for $11 per share. September 10 Purchases 11,000 shares of its own common stock for $27 per share. December 15 Resells 5,500 shares of treasury stock at $32 per share. * 01:57:36 Required: Record each of these transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" In the first account field.) View transaction list Journal entry worksheet Record the issuance of 100,000 shares of common stock for $22 per share. Note: Enter debits before credits. General Journal Debit Credit Date January 02 Record entry Clear entry View general journal

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