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KASE issues Common Stock in exchange for Land valued at $63,000. After 1 year, this Land increased in market value by $21,000 The account with

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KASE issues Common Stock in exchange for Land valued at $63,000. After 1 year, this Land increased in market value by $21,000 The account with which this issuance was recorded in was Common Stock, $7 at Par Value. How many shares of this type of Common Stock were issued? Which of the following Accounts would have Journal Entry postings based only on these transactions: 1) KASE receives $2,000 from Customer 1 for future consulting services 2) KASE sells Inventory valued at $50 for $100, on account Unearned Revenue Merchandise Inventory Cost of Goods Sold Accounts Receivable Accounts Payable Consulting Services Revenue Cash Sales Revenue

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