Question: Doherty Inc is authorized to issue 1 000 000 shares of
Doherty, Inc., is authorized to issue 1,000,000 shares of $ 1 par value common stock and 400,000 shares of $ 100 par preferred stock. Prepare the journal entries to record the sale of 10,000 shares of common stock at $ 9 and 200 shares of preferred stock at $ 103 per share.
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