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1. A company issues 1 million shares of preferred stock with a par value of $2 and a market price of $26 per share. The issuance should be recorded as:
a. a debit to Cash of $26 million and a credit to Preferred Stock of $26 million.
b. a debit to Cash of $2 million and a credit to Preferred Stock of $2 million.
c. a debit to Cash of $26 million, a credit to Preferred Stock of $2 million, and a credit to Additional Paid-in Capital of $24 million.
d. a debit to Cash of $26 million, a credit to Additional Paid-in Capital of $2 million, and a credit to Preferred Stock of $24 million.
We measure ourselves by what cannot be takenaway." i am doing discussion, and we have to interpret this quote,and write a several paragraph interpretation of the meaning of that quotation.
Balance of Power
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