Current Attempt in Progress

Tamarisk Corporation issued $2,100$ shares of $$10$ par value common stock upon conversion of $1,050$ shares of $$50$ par value preferred stock. The preferred stock was originally issued at $$57$ per share. The common stock is trading at $$25$ per share at the time of conversion.

Record the conversion of the preferred stock. $($List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts.$)$

Account Titles and Explanation

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Credit

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