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East Company issued 1,000 shares with 95 par to Howe as compensation for 1,000 hours of legal services performed. Howe bills 160 per hour for

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East Company issued 1,000 shares with 95 par to Howe as compensation for 1,000 hours of legal services performed. Howe bills 160 per hour for his legal services. By what amount should the share premium account increase as a result of the transaction? 155,000 160,000 150,000 170,000

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