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Vaughn Corporation issued 2,200 shares of $10 par value common stock upon conversion of 1,100...

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Accounting

Vaughn Corporation issued 2,200 shares of $10 par value common stock upon conversion of 1,100 shares of $50 par value preferred stock. The preferred stock was originally issued at $61 per share. The common stock is trading at $26 per share at the time of conversion

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