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O'Malley, Inc. issued 60,000 shares of common stock in exchange for manufacturing equipment. The equipment has a fair value of $1,130,000. The stock has a

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O'Malley, Inc. issued 60,000 shares of common stock in exchange for manufacturing equipment. The equipment has a fair value of $1,130,000. The stock has a par walue of $0.05 per share. The journal entry to record this transaction includes a

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