Yellowstone Inc. issued 300 shares of $5 par Common Stock an…
Yellowstone Inc. issued 300 shares of $5 par Common Stock and 200 shares of $50 par Preferred Stock for a lump sum of $75,000. The fair value of the common stock is $155 per share. The fair value of preferred stock is unknown. The journal entry to record the stock issuance includes a:
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