A company is authorized to issue 50,000 $50 par, 10%, noncumulative, nonparticipating preference shares and 500,000 no-par ordinary shares. Prepare journal entries to record the following selected transactions that occurred during this year:

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The Answer of A company is authorized to issue 50,000 $50 par, 10%, noncumulative, nonparticipating preference shares and 500,000 no-par ordinary shares. Prepare journal entries to record the following selected transactions that occurred during this year:

A Company Is Authorized to Issue 50,000 $50 Par, 10