The answer to Accounting - Journal Entries
On May 10 a company issued for cash 1,500 shares of no-par common stock (with a stated value of $2) at $12, and on May 15, it issued for cash 2,000 shares of $15 par preferred stock at $55.
Journalize the entries for May 10 and 15, assuming that the common stock is to be credited with the stated value.
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