(L.OBJ. 3) Issuing stock [5 min]
Maine Corporation has two classes of stock: Common, $3 par; Preferred, $30 par.
Requirement
1. Journalize Maine’s issuance of
a. 1,000 shares of common stock for $9 per share.
b. 1,000 shares of preferred stock for a total of $30,000.
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