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A company issues 20,000 shares of its common stock for $393,100 cash on February 20. Prepare journal entries to record this event under each of
A company issues 20,000 shares of its common stock for $393,100 cash on February 20. Prepare journal entries to record this event under each of the following separate situations.
a. The stock has a $18 par value.
b. The stock has neither par nor stated value.
c. The stock has a $9 stated value.
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