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On August 1,2020, Upton Corporation began operations and issued 9,500 shares of its $5 par value common stock to shareholders for $21 per share. Upton

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On August 1,2020, Upton Corporation began operations and issued 9,500 shares of its \$5 par value common stock to shareholders for $21 per share. Upton Corporation received cash. What journal entry should Upton Corporation record for this transaction on August 1,2020

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