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IBM had the following transactions in October 2031: Issued 2,080,500 shares of common stock for $2,080 per share. Purchased equipment for $840,000,000, paying $336,050,000 in
IBM had the following transactions in October 2031:
- Issued 2,080,500 shares of common stock for $2,080 per share.
- Purchased equipment for $840,000,000, paying $336,050,000 in cash and signing a note for the balance.
- Declared and paid dividends of $90,050,000.
Record the journal entries for these transactions and show how they would affect the cash flow statement.
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