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April, Inc. issued 4,000 shares of preferred stock for $268,000. The...

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Accounting

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April, Inc. issued 4,000 shares of preferred stock for $268,000. The stock has a par value of $67 per share. The journal entry to record this transaction would O A debit Cash $268,000, credit Preferred Stock-07 Par Value $4,000, and credit Paid-In Capital in Excess of Par-Preterred $264,000 OB. Credit Cash $268.000, debu Preferred Stock567 Par Value $4.000, and debit Paid - in Capital in Excess of Par-Preferred $264,000 OC. Credit Cash $268.000 and debit Preferred Stock-$67 Par Value $268,000 O D. debit Cash $268,000 and credit Preferred Stock-567 Par Value $268,000

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