The Mayfair Corporation was organized on August 1, 2013. The firm is authorized to issue 80,000 shares of no-par-value common stock with a stated value of $20 per share and 20,000 shares of $50 par-value, 12 percent preferred stock. Record the selected transactions on page 1 of a general journal. Omit descriptions.

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The Answer of The Mayfair Corporation was organized on August 1, 2013. The firm is authorized to issue 80,000 shares of no-par-value common stock with a stated value of $20 per share and 20,000 shares of $50 par-value, 12 percent preferred stock. Record the selected transactions on page 1 of a general journal. Omit descriptions.

The Mayfair Corporation Was Organized on August 1, 2013