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Brief Exercise 10-07 Sarasota Company obtained land by issuing 3,400 shares of its $12 par value common stock. The land was recently appraised at $147,720.
Brief Exercise 10-07 Sarasota Company obtained land by issuing 3,400 shares of its $12 par value common stock. The land was recently appraised at $147,720. The common stock is actively traded at $42 per share. Prepare the journal entry to record the acquisition of the land.
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