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Business, 02.07.2020 21:01 TheCampingStone

Prepare journal entries to record each of the following four separate issuances of stock. A corporation issued 5,000 shares of $20 par value common stock for $120,000 cash. A corporation issued 2,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $28,000. The stock has a $1 per share stated value. A corporation issued 2,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $28,000. The stock has no stated value. A corporation issued 1,250 shares of $75 par value preferred stock for $121,750 cash.

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Prepare journal entries to record each of the following four separate issuances of stock. A corporat...
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