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Susan Incis Authorized to Issue 70,000,$5,cumulative,preferred Shares,and an Unlimited Number of of Common

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Susan Inc.is authorized to issue 70,000,$5,cumulative,preferred shares,and an unlimited number of common shares.Prepare journal entries to record the following transactions that occurred during the first 3 months of operations: Susan Inc.is authorized to issue 70,000,$5,cumulative,preferred shares,and an unlimited number of common shares.Prepare journal entries to record the following transactions that occurred during the first 3 months of operations:

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