Question

Redbird Inc. had the following transactions related to its common and preferred stock:
January 15 Sold 350,000 shares of $0.10 par common stock for $15 per share.
Sold 5,000 shares of $20 par preferred stock at $23 per share.
November 29 Repurchased 30,000 shares of the common stock at $21 per share.

Required:
Prepare the journal entries for these transactions.


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  • CreatedSeptember 22, 2015
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