Hala Corporation issued 600 shares of $4 par value common stock and 100 shares of...
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Accounting
Hala Corporation issued 600 shares of $4 par value common stock and 100 shares of $1 par value preferred stock for a lump sum of $30,000. The common stock has a market value of $11 per share, and the preferred stock has a market value of $25 per share. Instruction: Using proportional method, prepare journal entry for the issuance transaction.
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