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Prepare the journal entry for the issuance

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Reference no: EM132871742

Question - Marigold Inc. issues 500 shares of $10 par value common stock and 100 shares of $100 par value preferred stock for a lump sum of $116,000.

Required - Prepare the journal entry for the issuance when the market price of the common shares is $164 each and the market price of the preferred is $205 each.

Reference no: EM132871742

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