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On July 1, Indiana Corporation's charter provided for 600,000 shares of $18 par value common stock. During its first month of operation, the corporation

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On July 1, Indiana Corporation's charter provided for 600,000 shares of $18 par value common stock. During its first month of operation, the corporation issued 20,000 shares of stock at a price of $22 per share. The entry to record the above transaction would include a cash common stock Debit Credit $ 440000 $ SA A

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