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Jayne Company purchased all of the 2 0 , 0 0 0 shares of $ 5 par common stock of Sifert Company by issuing 6
Jayne Company purchased all of the shares of $ par common stock of Sifert Company by issuing shares of its own $ par common stock. At the time of the purchase, Jayne Company common stock was trading $ per share. Prepare the journal entry Jayne would make to record this purchase.
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