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By what amounts preferred stock accounts increased

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Question - If 3,000 shares of 8 percent, $50 par value preferred stock were issued for cash at $60 per share, the Cash and Preferred Stock accounts would have been increased by what amounts, respectively?

A. $180,000; $180,000

B. $180,000; $150,000

C. $150,000; $180,000

D. $150,000; $150,000

Reference no: EM133037114

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