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On July 1, 2013, Stateside, Inc. issues 10,000 shares of $5 par value preferred stock...

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Accounting

On July 1, 2013, Stateside, Inc. issues 10,000 shares of $5 par value preferred stock at $50 cash per share and 20,000 shares of $1 par value common stock at $25 cash per share. What is the journal entry to record these transactions?

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