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Marigold Corporation issues 9200 shares of $50 par value preferred stock for cash at $85...

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Accounting

Marigold Corporation issues 9200 shares of $50 par value preferred stock for cash at $85 per share. The entry to record the transaction will consist of a debit to Cash for $782000 and a credit or credits to Paid-in Capital from Preferred Stock for $782000. Preferred Stock for $782000. Preferred Stock for $322000 and Paid-in Capital from Preferred Stock for $460000. Preferred Stock for $460000 and Paid-in Capital in Excess of Par-Preferred Stock for $322000

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