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2. On January 5, 2013 Payne Company exchanged 5,000 shares of its $5 par valu market price of $40 per share, for all the outstanding stock of Shafer Company tbination and to the combination, Payne incurred $5,000 of legal fees associated with the com stock issue costs. The market price per share of Shafer's stock at the date of com mpany in a stock acquisition. Pr combination was $50. (14 points) Required: Prepare the journal entries for Payne Company for the above transactions