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A company issues no par stock for $135 per share. What effect will this transaction have on the accounting records? Cash will increase, but

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A company issues no par stock for $135 per share. What effect will this transaction have on the accounting records? Cash will increase, but since this is no par stock, paid-in capital in excess of par will decrease. A "stated value" must be determined before this transaction can be recorded in the accounting records. Assets and stockholders' equity will increase Assets and Retained Earnings will increase.

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