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Sheffield corporation Issue 396 chairs of $10 per Value common stock and 140 chairs and...

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Accounting

Sheffield corporation Issue 396 chairs of $10 per Value common stock and 140 chairs and $50 per Value preferred stock for a lump sum of $18,468. The common stock has a market value of $20 per share and a preferred stock has a market priced at $90 per share prepared a journal entry to record the issuance

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