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Record the issuance of both shares of stock

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Question - Pipe Pig Inc. issued 500 shares of $12 par value common stock and 200 shares of $50 par value preferred stock for a lump-sum of $20,000. The common stock has a market price of $20 per share and the preferred stock has a market price of $70 per share.

Instructions - Record the issuance of both shares of stock.

Reference no: EM132561566

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