Baltimore Bike had outstanding 12,000 shares of $50 par callable preferred stock. The corporation called 35% of the shares originally issued at $75 per share) at a call price of $80 per share.
Required:
Record the journal entry for the call of this preferred stock.

Question

Quizplus · Accepted Answer

The Answer of Baltimore Bike had outstanding 12,000 shares of $50 par callable preferred stock. The corporation called 35% of the shares originally issued at $75 per share) at a call price of $80 per share.
Required:
Record the journal entry for the call of this preferred stock.

Baltimore Bike Had Outstanding 12,000 Shares of $50 Par Callable