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Prepare the journal entries for the above transactions

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Question - Johnson Corporation had the following transactions:

1. Issued 7,000 shares of no-par common stock with a stated value of $15 per share for $155,000.

2. Issued 3,000 shares of $100 par value preferred stock at $117 per share for cash.

Required - Prepare the journal entries for the above transactions. Omit explanations.

Reference no: EM132526735

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