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1. Prepare journal entries to record the following four separate issuances of stock. 1. A corporation issued 8,000 shares of $10 par value common stock
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Prepare journal entries to record the following four separate issuances of stock. 1. A corporation issued 8,000 shares of $10 par value common stock for $96,000 cash. 2. A corporation issued 4,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $52,500. The stock has a $1 per share stated value. 3.A corporation issued 4,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $52,500. The stock has no stated value. 4.A corporation issued 2,000 shares of $75 par value preferred stock for $202,500 cash. View transaction list Journal entry worksheet 1 2 3 4 > Record the issue of 8,000 shares of $10 par value common stock for $96,000 cash. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 Record entry View general journal Clear entryStep by Step Solution
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