Business, 17.02.2020 21:20 KieraKimball

Ravonette Corporation issued 300 shares of $10 par value common stock and 100 shares of $50 par value preferred stock for a lump sum of $13,500. The common stock has a market price of $20 per share, and the preferred stock has a market price of $90 per share.

Prepare the journal entry to record the issuance. (Round answers to 0 decimal places, e. g., 1520. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

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Ravonette Corporation issued 300 shares of $10 par value common stock and 100 shares of $50 par valu...

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