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Prepare the journal entries for the stock issuances

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Question - If Happy Company issues 10,000 shares of $5 par value common stock at $8 per share and 20,000 shares of $20 par value preferred stock at $23 per share.

a) Prepare the journal entries for the stock issuances.

b) How much cash was raised from the stock issuances?

Reference no: EM132544371

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