Question

Q. question 3

A company issued 1,200 shares of $3 par value preferred stock for $4 per share. What is true about the journal entry to record the issuance?
Multiple Choice
Credit Cash $4,800
Credit Preferred Stock $4,800
Debit Preferred Stock $4,800
Credit Additional Paid-In Capital $1,200
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A company issued 1,200 shares of $3 par value preferred stock for $4 per share. What is true about the journal entry to record the issuance? Multiple Choice Credit Cash $4,800 Credit Preferred Stock $4,800 Debit Preferred Stock $4,800 Credit Additional Paid-In Capital $1,200

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