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Lei Inc.'s $11par value common stock is actively traded at a market price of $14per share. Lei issues4,700shares to purchase land advertised for sale at

Lei Inc.'s $11par value common stock is actively traded at a market price of $14per share. Lei issues4,700shares to purchase land advertised for sale at $71,000.

Journalize the issuance of the stock in acquiring the land. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

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