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3.The Maker Company exchanged 25,000 shares of its own $50 par value common stock for a turret lathe from Turner Company. The market value of

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3.The Maker Company exchanged 25,000 shares of its own $50 par value common stock for a turret lathe from Turner Company. The market value of the Maker Company stock was $68 per share at the date of exchange. The equipment had a carrying value of $1,625,000. Record the exchange on the books of Maker Company in general journal form

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