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Business, 27.09.2019 03:20 hetdashadia123

Logan corporation issues 50,000 shares of $50 par value preferred stock for cash at $60 per share. the entry to record the transaction will consist of a debit to cash for $3,000,000 and a credit or credits toa. preferred stock for $3,000,000.b. preferred stock for $2,500,000 and paid-in capital in excess of par value—preferred stock for $500,000.c. preferred stock for $2,500,000 and retained earnings for $500,000.d. paid-in capital from preferred stock for $3,000,000.

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Logan corporation issues 50,000 shares of $50 par value preferred stock for cash at $60 per share. t...
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