A manufacturing company has 50,000 cumulative 8.5% of preferred stock with a par ...

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Accounting

A manufacturing company has 50,000 cumulative 8.5% of preferred stock with a par
value of $6 and 150,000 common stock@10 par value.The company paid a cash
dividend of $20,000 for two years. Find the dividend in arrears amount at the end of 2nd
year.
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