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Percy corporation was formed on January 1. The corporate charter authroized 100,000 shares of $10 par value common stock. During the first month of operation,
Percy corporation was formed on January 1. The corporate charter authroized 100,000 shares of $10 par value common stock. During the first month of operation, the corporation issues 390 shares to its attorneys in payment of a $5,900 charge for drawings up the articles of incorporation. The entry to record this transaction would include:
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