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Calculate the journal entry to record the issuance

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Reference no: EM132010715

Question - Pharoah Corporation issued 335 shares of $10 par value common stock and 103 shares of $50 par value preferred stock for a lump sum of $15,300. The common stock has a market price of $20 per share, and the preferred stock has a market price of $100 per share.

How do you calculate the journal entry to record the issuance?

Reference no: EM132010715

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