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    Exam 13: Corporations: Organization, Stock Transactions, and Dividends
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    On May 1, 10,000 Shares of $10 Par Common Stock
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On May 1, 10,000 Shares of $10 Par Common Stock

Question 126

Question 126

Essay

On May 1, 10,000 shares of $10 par common stock were issued at $30, and on May 7, 5,000 shares of $50 par preferred stock were issued at $111. Journalize the entries for May 1 and May 7.

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