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Dale Doback Industries is authorized by its corporate charter to issue 50,000 shares of common stock with a par value of $5 per share.

Dale Doback Industries is authorized by its corporate charter to issue 50,000 shares of common stock with a par value of $5 per share. On January 15, 2021, Doback issued 25,000 shares of common stock for $18 per share. Prepare the journal entry Jan 15 to show the sale of the stock.

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