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15. Denise and Michael now wish to incorporate a new business called D and M Industries, Inc. The company is authorized to issue 10,000 shares.

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15. Denise and Michael now wish to incorporate a new business called D and M Industries, Inc. The company is authorized to issue 10,000 shares. Denise contributed $20,000 in cash and received 100 shares of $1 par value common stock. What journal entry should be made for the stock issuance? Debits Credits Cash $20,000 $ S

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