Practice Problem 2

Jan. 1 Issued 5,000 shares of $100 par value preferred stock at $105 per share. Dec. 31 The board of directors declared a dividend for one year on the $100, 5% preferred stock (5,000 shares issued) and of $0.80 per share on the shares of common stock (50,000 shares issued). Transactions for 2001 ................
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