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In 2020, Sweet Inc. issued 1,200 shares of $10 par value common stock for land worth $43,500. (a) Prepare Sweet's journal entry to record the
In 2020, Sweet Inc. issued 1,200 shares of $10 par value common stock for land worth $43,500. (a) Prepare Sweet's journal entry to record the transaction. (Credit account titles are automatically indented when amour not indent manually. If no entry is required, select "No entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Debit (b) Indicate the effect the transaction has on cash. (c) Indicate how the transaction is reported on the statement of cash flows. Sweet Inc. Statement of Cash Flows (Partial) Credit (b) Indicate the effect the transaction has on cash. (c) Indicate how the transaction is reported on the statement of cash flows. Sweet Inc. Statement of Cash Flows (Partial)
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