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Asset 5 : Equipment was acquired by issuing 1 0 0 shares of $ 1 4 par value common stock. The stock had a market

Asset 5: Equipment was acquired by issuing 100 shares of $14 par value common stock. The stock had a market price of $20 per share.
Construction of Building: A building was constructed on land purchased last year at a cost of $270,000. Construction began on February 1 and was completed on November 1. The payments to the contractor were as follows.
\table[[Date,Payment],[21,$216,000
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