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On December 5, ACME purchased $58,000 of merchandise on account from Indiana Corp terms 3/10,n/30. Sold Merchandise for $5,000 to Lee Corp on account on

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On December 5, ACME purchased $58,000 of merchandise on account from Indiana Corp terms 3/10,n/30. Sold Merchandise for $5,000 to Lee Corp on account on December 8 . Cost of the merchandise was $3,430 and the terms of the sale were 2/15,n/30. On December 14, ACME wrote a check to Indiana Corp for the purchase made on December 5 to take advantage of the purchase discount (round discount to nearest dollar). On December 15 , Lee Corp requested credit for $800 of defective merchandise included in their December 7 purchase. ACME granted them an allowance and they disposed of the defective merchandise at ACME's request. Lee Corp paid their balance due taking the sales discount offered on December 19. 6) December 20ACME issued 80 shares of $10 par stock for $58 per share for cash. Prepare the adjustment to record the issuance of stock below

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