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A company issued 60 shares of $100 par value stock for $7,000 cash. The total amount of paid-in capital in excess of par is: $600.

A company issued 60 shares of $100 par value stock for $7,000 cash. The total amount of paid-in capital in excess of par is:

$600.

$1,000.

$7,000.

$6,000.

$100.

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