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A corporation has 60 shares of $100 par value common stock outstanding that were exchanged for $7,000 cash. The stockholders' equity section of the balance
A corporation has 60 shares of $100 par value common stock outstanding that were exchanged for $7,000 cash. The stockholders' equity section of the balance sheet will report Common Stock in the amount of $ , Paid-in Capital in Excess of Par Value of $ , and the total paid in by this class of stockholder of $ . (Do not input a comma or cents.)
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