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The Clothing Cove has two classes of stock authorized: 7%,$10 par preferred, and $1 par value common. The following transactions affect stockholders' equity during 2024

image text in transcribed The Clothing Cove has two classes of stock authorized: 7%,$10 par preferred, and $1 par value common. The following transactions affect stockholders' equity during 2024 , its first year of operations: January 2 Issues 100,000 shares of common stock for $21 per share. February 6 Issues 1,600 shares of 73 preferred stock for $13 per share. Septenber 10 Purchases 12,000 shares of its own comon stock for $26 per share. December 15 Resel1s 6,000 shares of treasury stock at $31 per share. Journal entry worksheet Record the issuance of 100,000 shares of common stock for $21 per share. Record the issuance of 1,600 shares of 7% preferred stock for $13 per share. Note: Enter debits before credits. Note: Enter debits before credits. Journal entry worksheet Journal entry worksheet 4 Record the purchase of 12,000 shares of its own common stock for $26 per Record the resale of 6,000 shares of treasury stock at $31 per share. share. Note: Enter debits before credits. Note: Enter debits before credits

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