Problem: ABC Company issued 1,000 shares of $100, 5% preferred stock, par value $100 for $300,000.  How much will the company record to its preferred stock account?

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ABC Company issued 1,000 shares of $100, 5% preferred stock, par value $100 for $300,000.  How much will the company record to its preferred stock account?

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Based on our data, we think this problem is relevant for Professor Cainas' class at USF.