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A company has 30,000,000 authorized shares and 3,000,000 issued and outstanding shares. The company decides to issue 50,000 shares of its $2 par value common

A company has 30,000,000 authorized shares and 3,000,000 issued and outstanding shares. The company decides to issue 50,000 shares of its $2 par value common stock.for $30 per share. Write the entry to record this transaction.

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