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E11-1. Issuance of Common Stock Evans & Sons, Inc., is authorized to issue one million shares of $1 par value common stock. In the company's

image text in transcribed E11-1. Issuance of Common Stock Evans \& Sons, Inc., is authorized to issue one million shares of $1 par value common stock. In the company's initial public offering, 500,000 shares are sold to the investing public at a price of $5 per share. One month following Smith \& Sons' initial public offering, 1,000 of its common shares were sold by one investor to another at a price of $15 per share. How should this transaction be recorded in the accounts of Evans \& Sons? Why

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