Record the journal entries for the 2 listed events below. 1. On June 13, 2022, Best Buy issued 20,000 shares of $5 par value preferred stock for cash at $30 per share. 2. On June 19, 2022, Best Buy declared a $0.95 per share cash dividend on 100,000 shares of $10 par value of preferred stock.

Record the journal entries for the 2 listed events below. 1. On June 13, 2022, Best Buy issued 20,000 shares of $5 par value preferred stock for cash at $30 per share. 2. On June 19, 2022, Best Buy declared a $0.95 per share cash dividend on 100,000 shares of $10 par value of preferred stock.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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Question

Record the journal entries for the 2 listed events below.
1. On June 13, 2022, Best Buy issued 20,000 shares of $5 par value preferred stock for cash at $30 per share.
2. On June 19, 2022, Best Buy declared a $0.95 per share cash dividend on 100,000 shares of $10 par value of preferred
stock.

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