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Windsor Corporation issued 119,000 shares of $19 par value, cumulative, 9% preferred stock on January 1, 2018, for $2,550,000, in December 2020, Windsor declared its
Windsor Corporation issued 119,000 shares of $19 par value, cumulative, 9% preferred stock on January 1, 2018, for $2,550,000, in December 2020, Windsor declared its first dividend of $750,000. Prepare Windsor's journal entry to record the issuance of the preferred stock (Credit account titles are qutomatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the occount tities and enter Ofor the amounts. If the preferred stock is not cumulative, how much of the $750,000 would be paid to common stockholders? Common Stock Dividends $ eTextbook and Media List of Accounts 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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