Issuing stock for assets other than cash Obj. 2 On November 23, Elder Lift Corporation, a wholesaler

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Issuing stock for assets other than cash Obj. 2 On November 23, Elder Lift Corporation, a wholesaler of hydraulic lifts, acquired land in exchange for 14,200 shares of $25 par common stock with a current market price of $34. Journalize the entry to record the transaction.

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