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Daring the year the company perchased equipment through the use of communs. The stock had a par value of $200,000 and fair value of $350,000.

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Daring the year the company perchased equipment through the use of communs. The stock had a par value of $200,000 and fair value of $350,000. The fair value of the equipment was not easily determinable. The company incorrectly recorded this transaction as follows Equipment 200.000 Common Stock 200.000 Provide the entry that the company should have recorded in the form below (omit explanations) (Spoints) Copy the table below and swer in the space provided Date Account Title Description Debit Credit

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