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As an auditor for the firm of Prisma You encounter the following situations in auditing different clients. Baden beauty center is a closely held corporation

As an auditor for the firm of Prisma You encounter the following situations in auditing different clients. Baden beauty center is a closely held corporation whose shares are not publicly traded. On Dec 5 the corporation acquired a land by issuing a 5000 $10 par value ordinary shares. The owners asking price for the land was $138,000, and the fair value of the land was $124,000. Prepare the journal entry

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