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If Metlock, Inc. issues 7000 shares of $10 par value common stock for $358000, the account Cash will be debited for $358000. Paid-in Capital in
If Metlock, Inc. issues 7000 shares of $10 par value common stock for $358000, the account Cash will be debited for $358000. Paid-in Capital in Excess of Par Value will be credited for $358000. Paid-in Capital in Excess of Par Value will be credited for $428000. Common Stock will be credited for $288000
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