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LMN Corporation issued 1,000 shares of common stock at $20 per share. Calculate the total amount of cash received from the issuance of common stock.
LMN Corporation issued 1,000 shares of common stock at $20 per share. Calculate the total amount of cash received from the issuance of common stock. Requirements: a. Determine the total par value of the common stock issued. b. Calculate the additional paid-in capital. c. Record the common stock issuance. d. Determine the total cash received. e. Analyze the impact of the issuance on the balance sheet.
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