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On February 1, Excel Corporation issued 37,500 common shares for $252,440 cash. On February 12, an additional 47.000 common shares were issued for cash of

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On February 1, Excel Corporation issued 37,500 common shares for $252,440 cash. On February 12, an additional 47.000 common shares were issued for cash of $7.25 per share. Present the entries to record these transactions and calculate the average issue price per common share

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