Question
A company has issued 300,000 new shares to shareholders in exchange for $5,000,000 cash. The shares are $1 par common shares. What is needed in
A company has issued 300,000 new shares to shareholders in exchange for $5,000,000 cash. The shares are $1 par common shares.
What is needed in the journal entry to record this issuance of shares?
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Survey of Accounting
Authors: Thomas P. Edmonds, Frances M. McNair, Philip R. Olds, Bor Yi
3rd Edition
978-1259683794, 77490835, 1259683796, 9780077490836, 978-0078110856
