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Journalize the issuance of the common and preferred shares

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Question - Cheyenne Corp. began operations on April 1 by issuing 51,400 shares of $5 par value common stock for cash at $15 per share. In addition, Cheyenne issued 1,500 shares of $1 par value preferred stock for $4 per share.

Journalize the issuance of the common and preferred shares.

Reference no: EM131865587

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