Question: Please solve the question below as soon as possible. Monty Corporation is authorized to issue both preferred and common stock. The par value of the

Please solve the question below as soon as possible.

Please solve the question below as soon as possible. Monty Corporation is

authorized to issue both preferred and common stock. The par value of

Monty Corporation 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 20,000 shares for cash at $58 per share. July 1 Issued 14,000 shares for cash at $62 per share. Post to the stockholders' equity accounts. (Post entries in the order of journal entries presented in the previous part.)

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