Solved: Blue corporation issues 200 packages of securities for 80, Accounting Basics

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Blue corporation issues 200 packages of securities for 80

Blue Corporation issues 200 packages of securities for $80 per package, or a total of $16,000. Each package includes four shares of $5 par common stock and one share of $30 par preferred stock. If the separate market values are $20 per share for the common stock and $70 per share for the preferred stock, what journal entry will Blue make to record this transaction?

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Accounting Basics: Blue corporation issues 200 packages of securities for 80

Reference No:- TGS01155040

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Accounting Basics: Blue corporation issues 200 packages of securities for 80

Reference No:- TGS01155040

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