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Need account titles, common stock and paid-in capital are not available Tamarisk Company obtained land by issuing 1,680 shares of its $12 par value ordinary
Need account titles, common stock and paid-in capital are not available
Tamarisk Company obtained land by issuing 1,680 shares of its $12 par value ordinary shares. The land was recently appraised at $85,000. The ordinary shares are actively traded at $42 per share. Prepare the journal entry to record the acquisition of the land. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.)Step by Step Solution
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