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L. Edward, Attorney at Law performed legal services for R. Corp. Due to a cash shortage, an agreement was reached whereby R. Corp. would compensate

image text in transcribed L. Edward, Attorney at Law performed legal services for R. Corp. Due to a cash shortage, an agreement was reached whereby R. Corp. would compensate L. Edward for a legal fee of approximately $19500 by issuing 7800 shares of its common stock (par $1.00 ). The stock trades on a daily basis and the market price of the stock on the day the debt was settled is $2.40 per share. Given this information, the best journal entry for R. Corp. to record for this transaction is

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