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Company NN issued 12,000 shares of common stock at $40 per share. Calculate the total amount of cash received from the issuance of stock and

Company NN issued 12,000 shares of common stock at $40 per share. Calculate the total amount of cash received from the issuance of stock and journalize the transaction. Additionally, compute the par value per share if the company has a total par value of $60,000.

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