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If a corporation sells 400 shares of 12 percent, $100 par-value preferred stock for $105...

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Accounting

If a corporation sells 400 shares of 12 percent, $100 par-value preferred stock for $105 a share, the entry to record the transaction will include a credit of $____.00 to the Preferred Stock account.

42,000

40,000

4,000

2,000

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