What would be true of the journal entry

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Reference no: EM131296119

What would be true of the journal entry made to issue 10,000 shares of 6% $100 par Preferred Stock for a total of $ 1,500,000. Select one: a. The Preferred Stock account would be increased by $1,500,000. b. The Cash account would be increased by $1,500,000. c. The Preferred Stock would be automatically convertible and cumulative. d. Preferred stockholders are guaranteed their dividend each year.

Reference no: EM131296119

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