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Issuing stock for assets other than cash On November 2 3 , Elder Lift Corporation, a wholesaler of hydraulic lifts, acquired land in exchange for

Issuing stock for assets other than cash
On November 23, Elder Lift Corporation, a wholesaler of hydraulic lifts, acquired land in exchange for 14,200 shares of $25 par common stock with a current market price of $34.
Journalize the entry to record the transaction. If an amount box does not require an entry, leave it blank.
Nov. 23
Common Stock
Paid-In Capital in Excess of Par-Common Stock grad
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