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Moonwalker Corporation issued 2,000 shares of its $10 par value common stock for $60,000. Moonwalker also incurred $1,500 of costs associated with issuing the stock.

Moonwalker Corporation issued 2,000 shares of its $10 par value common stock for $60,000. Moonwalker also incurred $1,500 of costs associated with issuing the stock. If you record the transaction with one journal entry that Debits Cash for $58,500 ($60,000 - 1,500), then what would be the adjustment to PIC in excess ofpar - CS?

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