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Revonette Corporation issued 300 shares.

Revonette Corporation issued 300 shares of $10 par value common stock and 100 shares of $50 par value preferred stock for a lump sum of $13,500.

Market Value: Common Stock $20 and Preferred Stock $90 per share.

Prepare journal entry to record the issuance.

Thank you very much.

May 25 2018 View more View Less

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