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preferred stock were issued at $106. entries for April 1 and 7. Refer to the Chart of Accounts for of account titles.

preferred stock were issued at $106. entries for April 1 and 7. Refer to the Chart of Accounts for of account titles.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Instructions On April 1, 10,000 shares of $5 par common stock were issued at $24, and on April 7, 4,000 shares of $50 par preferred stock were issued at $106. General Journal 1 2 3 4 5 Required: Journalize the entries for April 1 and 7. Refer to the Chart of Accounts for exact wording of account titles. 6 DATE $ DESCRIPTION JOURNAL POST. REF. DEBIT CREDIT ACCOUNTING FOLATI ASSETS LIABILITIES
Transcribed Image Text:Instructions On April 1, 10,000 shares of $5 par common stock were issued at $24, and on April 7, 4,000 shares of $50 par preferred stock were issued at $106. General Journal 1 2 3 4 5 Required: Journalize the entries for April 1 and 7. Refer to the Chart of Accounts for exact wording of account titles. 6 DATE $ DESCRIPTION JOURNAL POST. REF. DEBIT CREDIT ACCOUNTING FOLATI ASSETS LIABILITIES
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