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Business, 29.10.2019 00:31 Ladarius566

Sneed corporation issues 9,700 shares of $49 par preferred stock for cash at $66 per share. the entry to record the transaction will consist of a debit to cash for $640,200 and a credit or credits to

a. preferred stock for $475,300 and paid-in capital in excess of par—preferred stock for $164,900.

b. paid-in capital from preferred stock for $640,200.

c. preferred stock for $640,200.

d. preferred stock for $475,300 and retained earnings for $164,900.

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Sneed corporation issues 9,700 shares of $49 par preferred stock for cash at $66 per share. the entr...
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