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On April 1, 10,000 Shares of $5 Par Common Stock

question 195

Essay

On April 1, 10,000 shares of $5 par common stock were issued at $22, and on April 7, 5,000 shares of $50 par preferred stock were issued at $104. Journalize the entries for April 1 and 7.


Definitions:

Crank

To rotate an engine with the objective of starting it.

Digital Multimeter (DMM)

An electronic measuring instrument that combines multiple measurement functions in one unit.

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Semiconductor devices used to amplify or switch electronic signals and electrical power.

Photodiode

A semiconductor device that converts light into electrical current, commonly used in optical communication systems and light sensing.

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