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Liu Industries issued 12 million of its $1 par common shares for $428 million on April 11. Legal, promotional, and accounting services necessary to
Liu Industries issued 12 million of its $1 par common shares for $428 million on April 11. Legal, promotional, and accounting services necessary to effect the sale cost $1 million. Required: 1. Prepare the journal entry to record the issuance of the shares. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10). View transaction list Journal entry worksheet 1 Record the issuance of the shares. Note: Enter debits before credits. Event 1 General Journal Debit Credit Prev 6 of 6 Nexh
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