What is the Journal Entry for both transactions given below: ABC received $300,000 in cash for issuing

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What is the Journal Entry for both transactions given below:
ABC received $300,000 in cash for issuing 10,000 shares of $9.00 par common stock.
ABC received $600,000 cash for issuing 2000 shares of $200/par preferred stock

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Advanced Accounting

ISBN: 978-0077431808

10th edition

Authors: Joe Hoyle, Thomas Schaefer, Timothy Doupnik

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Question Posted: Jun 23, 2017 08:26 AM

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What is the Journal Entry for both transactions given below: ABC received $300,000 in cash for issuing

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1 Cash acDr 300000 To common stock ac9...View the full answer

Advanced Accounting

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