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**PLEASE ANSWER ALL PARTS ** ICOT Industries issued 16 million of its $1 par common shares for $444 million on April 11. Legal, promotional, and
**PLEASE ANSWER ALL PARTS **
ICOT Industries issued 16 million of its $1 par common shares for $444 million on April 11. Legal, promotional, and accounting services necessary to effect the sale cost $2 million. Required: 1. Prepare the journal entry to record the issuance of the shares. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10). Do not round your intermediate calculations.)Step by Step Solution
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