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1. Manning Company issued 10,000 shares of its S5 par value common stock having a fair value of $25 per share and 15,000 shares of

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1. Manning Company issued 10,000 shares of its S5 par value common stock having a fair value of $25 per share and 15,000 shares of its $15 par value preferred stock having a fair value of S20 per share for a lump sum of $540,000. What journal entry would Manning Company journalized

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