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Whispering Winds Corporation is authorized to issue both preferred and common stock. The par
value of the preferred is $50 . During the first year of operations, the company had the following
events and transactions pertaining to its preferred stock. Feb. 1 Issued 21,000 shares for cash at
$57 per share. July 1 Issued 13,000 shares for cash at $61 per share. (a). (b) Post to the
stockholders' equity accounts. (Post entries in the order of journal entries presented in the
previous part.)

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