On July 1, Hanson Corporation issued 10 shares of $100 par value preferred stock for cash...

On July 1, Hanson Corporation issued 10 shares of $100 par value preferred stock for cash of $1,000 per share. Complete the necessary journal entry by selecting the account names from the drop-down menus and entering the dollar amounts in the debit or credit columns.

On July 1, Hanson Corporation issued 10 shares of $100 par value preferred stock for cash of $1,000 per share.

Expert Solution

General Journal	Debit	Credit
Cash	$10,000
Preferred Stock, 100 par value		$1,000
Paid-In Capital in excess of par value, preferred stock		$9,000

ekkarill92 answered 2 years ago

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