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Abc co issued 500 shares of common stock par value 2 upon

CONVERTIBLE PREFERRED STOCK - ABC Co. issued 500 shares of common stock (par value $2) upon conversion of 300 shares of preferred stock (par value $1) that was originally issued for a $100 premium. Prepare journal entry to record conversion of the stock.

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Accounting Basics: Abc co issued 500 shares of common stock par value 2 upon

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