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During the year the company purchased equipment through the issuance of common stock. The stock had a par value of S200,000 and a fair value

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During the year the company purchased equipment through the issuance of common stock. The stock had a par value of S200,000 and a 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) (5points): Copy the table below and answer in the space provided Date Account Title Description Debit Credit

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