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Prepare journal entries effects template to record

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Truman Company is authorized to issue 1,000,000 shares of its $5 par value common stock and 500,000 shares of its $10 par value preferred stock. During 2019, the company had the following select transactions.

  1. Issued 200,000 shares of common stock for $35 per share
  2. Issued 50,000 shares of preferred stock for $55 per share
  3. Reacquired 80,000 shares of common stock at $30 per shares
  4. Reissued 50,000 shares from treasury for $33 per share
  5. Reissued 30,000 shares from treasury for $23 per share

Question 1: Prepare journal entries OR a financial statements effects template to record the above transactions.

Reference no: EM132493870

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