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Pennygrew Co had 700,000 shares of $10 par value common stock outstanding. The amount of additional paid-in capital is $3,500,000, and Retained Earnings is $1,050,000.
Pennygrew Co had 700,000 shares of $10 par value common stock outstanding. The amount of additional paid-in capital is $3,500,000, and Retained Earnings is $1,050,000. The company issues a 2-for-1 stock split. The market price of the stock is $13. What is the balance in the Common Stock account after this issuance
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