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Bailey Corporation issued 10,000 shares of no-par common stock for $25 per share. Bailey also...

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Accounting

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Bailey Corporation issued 10,000 shares of no-par common stock for $25 per share. Bailey also issued 3,000 shares of $40 par, 6 percent noncumulative preferred stock at $42 per share. Required Record these events in a horizontal statements model like the following one. In the cash flow column, indicate whether the item is an operating activity (OA), an investing activity (IA), or a financing activity (FA) Use NA to indicate that an element was not affected by the event. Show effect on the accounting equation in the order provided in the question. (Enter any decreases to account balances and cash outflows with a minus sign.)

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