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Prepare the journal entries for the preceding transactions

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Miles Co. had these transactions during the current period.

June 12

Issued 50,000 shares of $3 stated value common stock for cash of $250,000.

July 11

Issued 2,000 shares of $100 par value preferred stock for cash at $108 per share.

Nov. 28

Purchased 2,000 shares of treasury stock for $10,000.

Prepare the journal entries for the preceding transactions.

Reference no: EM13984778

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