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On April 21, Killarny Enterprises acquired a large tract of land from McSwain Corporation. Killarny issues $1,400 shares of its $1 par value common stock

On April 21, Killarny Enterprises acquired a large tract of land from McSwain Corporation. Killarny issues $1,400 shares of its $1 par value common stock to McSwain in exchange for the land. (a) Prepare the journal entry to record this transaction by Killarny Enterprises, if the company

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