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cedar Corporation issued 35,000 shares of $1 par value common stock in exchange for a building with a market value of $230,000. Record the stock

cedar Corporation issued 35,000 shares of $1 par value common stock in exchange for a building with a market value of $230,000. Record the stock issuance. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.)

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