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Teal Mountain Inc. issues 9,500 shares of $104 par value preferred stock for cash at $116 per share. Journalize the issuance of the preferred stock.
Teal Mountain Inc. issues 9,500 shares of $104 par value preferred stock for cash at $116 per share. Journalize the issuance of the preferred stock. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)
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