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Business, 11.11.2019 18:31 bcarri4073

On july 1, 2018, nall co. issued 2,500 shares of its $10 par common stock and 5,000 shares of its $10 par convertible preferred stock for a lump sum of $140,000. at this date nall's common stock was selling for $24 per share and the convertible preferred stock for $18 per share. the amount of the proceeds allocated to nall's preferred stock should be1. $84,000.2. $77,000.3. $90,000.4. $70,000.

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