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Concord Company is a publicly held corporation whose $1 par value stock is actively traded at $34 per share. The company issued 3600 shares of

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Concord Company is a publicly held corporation whose $1 par value stock is actively traded at $34 per share. The company issued 3600 shares of stock to acquire land recently advertised at $ 108000. When recording this transaction, Concord Company will credit Paid-In Capital in Excess of Par for $122400. credit Common Stock for $122400. debit Land for $122400. debit Land for $108000

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