On January 1, 2012, Dkembe Corporation was authorized to issue 100,000 shares of common stock, par value $5 per share, and 20,000 shares of 5 percent cumulative preferred stock, par value $40 per share.
Prepare journal entries to record the following 2012 transactions:

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The Answer of On January 1, 2012, Dkembe Corporation was authorized to issue 100,000 shares of common stock, par value $5 per share, and 20,000 shares of 5 percent cumulative preferred stock, par value $40 per share.
Prepare journal entries to record the following 2012 transactions:

On January 1, 2012, Dkembe Corporation Was Authorized to Issue