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Business, 07.06.2020 02:57 nick607

Concord Corporation issued 113,000 shares of $19 par value, cumulative, 7% preferred stock on January 1, 2019, for $2,630,000. In December 2021, Concord declared its first dividend of $720,000. (a) Prepare Concord’s journal entry to record the issuance of the preferred stock.

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