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Looking for a solution to this question Prepare the journal entry to record Jevonte Company's issuance of 36,000 shares of its common stock assuming the
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Prepare the journal entry to record Jevonte Company's issuance of 36,000 shares of its common stock assuming the shares have a: a. $2 par value and sell for $18 cash per share. b. $2 stated value and sell for $18 cash per share. Answer is complete but not entirely correct. No Transaction General Journal Debit Credit 1 a Cash 648,000 Common stock, $2 par value 72,000 576,000 Paid-in capital in excess of par value, common stock 2 b Cash 648,000 Common stock, $2 par value Paid-in capital in excess of par value, common stock 72,000 576,000 xStep by Step Solution
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