Sheffield Corp. is authorized to issue both preferred and common stock. The par value of the preferred is $50. During the first year of operations, the company had the following events and transactions pertaining to its preferred stock. Feb. 1 Issued 51,500 shares for cash at $54 per share. July 1 Issued 67,000 shares for cash at $58 per share. Journalize the transactions.
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Home » Business » Sheffield Corp. is authorized to issue both preferred and common stock. The par value of the preferred is $50. During the first year of operations, the company had the following events and transactions pertaining to its preferred stock. Feb.