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Colvin Corporation issued 5,000 shares of $3 stated value common stock for $8 per share on July 7. Record the stock issuance. (Record debits first,

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Colvin Corporation issued 5,000 shares of $3 stated value common stock for $8 per share on July 7. Record the stock issuance. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Accounts and Explanation Debit Credit Date Jul. 7

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