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What is the total amount invested

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Problem - Entries for issuing par stock

On January 14, Mountain Rocks Inc., a marble contractor, issued for cash 24,000 shares of $25 par common stock at $32, and on March 17, it issued for cash 60,000 shares of $10 par preferred stock at $11.

Required -

a. Journalize the entries for January 14 and March 17.

b. What is the total amount invested (total paid-in capital) by all stockholders as of March 17?

Reference no: EM132683292

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