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A Company Is Authorized to Issue 50,000 Shares of $50

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A company is authorized to issue 50,000 shares of $50 par,10%,noncumulative,nonparticipating preferred stock,and 500,000 shares of no-par common stock.Prepare journal entries to record the following selected transactions that occurred during this year:
A company is authorized to issue 50,000 shares of $50 par,10%,noncumulative,nonparticipating preferred stock,and 500,000 shares of no-par common stock.Prepare journal entries to record the following selected transactions that occurred during this year:

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