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Prepare the journal entry to record the issuance

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Question - Ravonette Corporation issued 310 shares of $14 par value common stock and 150 shares of $47 par value preferred stock for a lump sum of $17,500. The common stock has a market price of $22 per share, and the preferred stock has a market price of $98 per share. Prepare the journal entry to record the issuance.

Reference no: EM131988776

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