Worldwide Company was authorized to issue 10,000 preference shares of $200 par value and 10,000 ordinary shares of $20 par value. Subscription for 4,000 preference shares was received at $218 per share with a down payment of 30%. The balance is payable after 60 days.   Question: Assuming after 60 days, only subscribers at 2,000 preference share paid the balance, the entry to record the collection includes a debit to Cash at _____________.

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A:

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A: 1.

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A:

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Q: Worldwide Company was authorized to issue 10,000 preference shares of P200 par value and 100,000…

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Q: Please give me the journal entries of the following: Received payments in full for half of the…

A: Please check the next step

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A: When stock is issued at a price higher than the par value, they are said to be issued at premium.…