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2. On May 16, ABC issued 10,000 shares of no-par common stock for $100,000. Journalize this transaction. --- 3. On April 10, XYZ acquired land

2. On May 16, ABC issued 10,000 shares of no-par common stock for $100,000. Journalize this transaction.

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3. On April 10, XYZ acquired land with a current market value of $100,000 in exchange for 100 shares of $20 par common stock.

a)The Fair market value of the stock is unknown.

b) The Fair market value of the stock is $90/share

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