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Bodkin Beverage Company is authorized to issue 20,000 shares of 8%, $100 par value preferred stock and 500,000 shares of no-par common stock with a

Bodkin Beverage Company is authorized to issue 20,000 shares of 8%, $100 par value preferred stock and 500,000 shares of no-par common stock with a stated value of $1 per share. If Bodkin issues 12,000 shares of common stock to pay its recent attorney's bill of $50,000 for legal services on a land access dispute, which of the following would be the journal entry for Bodkin to record?

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