a. Prepare the journal entry to record Stefan Companys issuance of 12,000 shares of $50...
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Accounting
a. Prepare the journal entry to record Stefan Companys issuance of 12,000 shares of $50 par value 6% cumulative preferred stock for $75 cash per share.
b. Assuming the facts in part 1, if Stefan declares a year-end cash dividend, what is the amount of dividend paid to preferred shareholders? (Assume no dividends in arrears.)
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