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Windsor Corporation issued 119,000 shares of $19 par value, cumulative, 9% preferred stock on January 1, 2021, for $2,550,000. In December 2023, Windsor declared its
Windsor Corporation issued 119,000 shares of $19 par value, cumulative, 9% preferred stock on January 1, 2021, for $2,550,000. In December 2023, Windsor declared its first dividend of $750,000. (a) Your answer is correct. Prepare Windsor's journal entry to record 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 for the amounts.) Account Titles and Explanation Debit Credit Cash 2550000 Preferred Stock 2261000 Paid-in Capital in Excess of Par-Preferred Stock 289000 If the preferred stock is not cumulative, how much of the $750,000 would be paid to common stockholders? Common Stock Dividends $ 546510 e Textbook and Media Assistance Used List of Accounts Attempts: 2 of 3 used (c) If the preferred stock is cumulative, how much of the $750,000 would be paid to common stockholders? Common Stock Dividends $
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