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Journalize the transaction for tran corporation

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Tran Corporation is authorized to issue both preferred and common stock. The par value of the preferred is $48. During the first year of operations, the company had the following events and transactions pertaining to its preferred stock.

Feb. 1 Issued 19,500 shares for cash at $58 per share.

July .1 Issued 11,500 shares for cash at $62 per share.

Problem 1: Journalize the transaction.

Reference no: EM132683862

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