Question: BE13.4 (LO 2) AP StarLight Ltd. is authorized to issue 10,000, $4 noncumulative preferred sharex ob Jamuary 13, it issued 3,000 preferred shares for $90

BE13.4 (LO 2) AP StarLight Ltd. is authorized to issue 10,000, $4 noncumulative preferred sharex ob Jamuary 13, it issued 3,000 preferred shares for $90 cash per share. (a) Prepare the journal entry to racodi the transaction. (b) Determine the total amount of dividends that must be paid to the preferred stare holders prior to paying a dividend to common shareholders

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