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How do prepare the journal entry to record the issuance

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Question - Cheyenne Corporation issued 370 shares of $10 par value common stock and 126 shares of $50 par value preferred stock for a lump sum of $18,000. The common stock has a market price of $20 per share, and the preferred stock has a market price of $100 per share. How do prepare the journal entry to record the issuance?

Reference no: EM132597043

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