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Coronado corporation issued 356 shares of 10 par value

Question -

Coronado Corporation issued 356 shares of $10 par value common stock and 148 shares of $50 par value preferred stock for a lump sum of $19,728. The common stock has a market price of $20 per share, and the preferred stock has a market price of $100 per share.

Prepare the journal entry to record the issuance.

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Accounting Basics: Coronado corporation issued 356 shares of 10 par value

Reference No:- TGS02373652

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Accounting Basics: Coronado corporation issued 356 shares of 10 par value

Reference No:- TGS02373652

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