Cheyenne Corp is authorized to issue both preferred and common stock The par value of the preferred is $50 During the first year of operations, the company had the following events and transactions pertaining to its preferred stock Feb 1 Issued 48,000 shares for cash at $52 per share July 1 Issued 66,000 shares for cash at $56 per share Post to the stockholders' equity accounts (Use T accounts ) (Post entries in the order of journal entries posted in the previous part )

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Question: Cheyenne Corp. is authorized to issue both preferred and common stock. The par value of the preferred is $50. During the first year of operations,

Cheyenne Corp. is authorized to issue both preferred and common stock. The par value of the preferred is $50. During the first year of operations, the company had the following events and transactions pertaining to its preferred stock.

Feb. 1		Issued 48,000 shares for cash at $52 per share.
July 1		Issued 66,000 shares for cash at $56 per share.

Cheyenne Corp. is authorized to issue both preferred and common stock. The

Post to the stockholders' equity accounts. (Use T-accounts.) (Post entries in the order of journal entries posted in the previous part.)

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