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A company had stockholders' equity on January 1 as follows: Common Stock, $10 par value, 100,000 shares authorized, 75,000 shares issued; Contributed Capital in excess
A company had stockholders' equity on January 1 as follows: Common Stock, $10 par value, 100,000 shares authorized, 75,000 shares issued; Contributed Capital in excess of Par Value, Common Stock, $150,000 and Retained Earnings of $270,000. On June 9, $150,000 worth of retained earnings was appropriated for a plant expansion to be constructed next year. The journal entry to record the appropriation would include
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