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Sage Corporation issued 337 shares of $10 par value common stock and 131 shares of $50...

Sage Corporation issued 337 shares of $10 par value common stock and 131 shares of $50 par value preferred stock for a lump sum of $17,856. The common stock has a market price of $20 per share, and the preferred stock has a market price of $100 per share.

Prepare the journal entry to record the issuance.

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