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Todd Corporation sold 4 million of its $1 par common shares at $6 per share. The company received net proceeds from the public offering of

Todd Corporation sold 4 million of its $1 par common shares at $6 per share. The company received net proceeds from the public offering of $23,600,000, after deducting legal, promotional, and accounting services necessary to affect the sale. Prepare the appropriate journal entry for the sale of the stock.

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