Ayayai Corp. is authorized to issue both preferred and common stock. The par value of the preferred is $50. During the first year of operations, the company had the following events and transactions pertaining to its preferred stock.
Feb. 1 Issued 72,400 shares for cash at $146 per share.
July 1 Issued 171,300 shares for cash at $101 per share.
Required:
Journalize the transactions.
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Ayayai Corp. is authorized to issue both preferred and common stock. The par value of the preferred...
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