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Prepare hodge journal entry to record the issuance

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Question - Hodge Corporation issued 112,000 shares of $20 par value, cumulative, 8% preferred stock on January 1, 2016, for $2,700,000. In December 2018, Hodge declared its first dividend of $840,000.

Prepare Hodge's journal entry to record the issuance of the preferred stock.

Reference no: EM131726473

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