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A corporation issues 3,700 shares of common stock for $118,400. The stock has a stated value of $11 per share. What amount of credit to

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A corporation issues 3,700 shares of common stock for $118,400. The stock has a stated value of $11 per share. What amount of credit to Common Stock would the journal entry to record the stock issuance include Select the correct answer. $77,700 $118,400 $3,700 O$40,700

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