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Rowlands corporation has 100,000 shares of $40 par value preferred stock authorized. during the year, it had the following transaction related to its preferred stock.
Rowlands corporation has 100,000 shares of $40 par value preferred stock authorized. during the year, it had the following transaction related to its preferred stock. 1) issues 13,500 shares for equipment having a $750,000 asking price. the stock had a market value of $65 per share.
Journalize the transaction.
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