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Prepare the journal entries for each transaction

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Reference no: EM133159816

Question - On March 8, Southwood Property Inc., a publicly traded company, issued 4,000 preferred shares for cash of $29 per share. On April 20, when the shares were trading at $34, the company issued an additional 2,900 preferred shares in exchange for land with a fair value of $103,100. Prepare the journal entries for each transaction.

Reference no: EM133159816

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