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Lee Company offers its top executives the opportunity to purchase its $1 par value common stock at 2% discount to the market price. The employees
Lee Company offers its top executives the opportunity to purchase its $1 par value common stock at 2% discount to the market price. The employees have 3 weeks to elect to participate in the plan. The current market price of the stock is $81 per share. Employees purchased a total of 2000 shares. What journal entry will the company make on the date the employees purchase the shares?
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