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Make the journal entry to record the issuance

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Question - Wildhorse Corporation issued 398 shares of $10 par value common stock and 120 shares of $50 par value preferred stock for a lump sum of $16,884. The common stock has a market price of $20 per share, and the preferred stock has a market price of $90 per share.

Make the journal entry to record the issuance.

Reference no: EM132447889

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