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Arizona Corporation has two classes of stock: common, $2 par value; and preferred, $10 par...

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Accounting

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Arizona Corporation has two classes of stock: common, $2 par value; and preferred, $10 par value.
Requirements
Journalize Arizona Corporation's issuance of 2,000 shares of common stock for $11 per share.
Journalize Arizona Corporation's issuance of 2,000 shares of preferred stock for a total of $20,000.
Requirement 1. Journalize Arizona Corporation's issuance of 2,000 shares of common stock for $11 per
share. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.)
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