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Prepare Journal Entries in good form for the following (unrelated) equity transactions: 1) Lobo Company issues 500 $.01 par stock for $10 cash per share
Prepare Journal Entries in good form for the following (unrelated) equity transactions: 1) Lobo Company issues 500 $.01 par stock for $10 cash per share on February 1st. 2) Wild Cherry Associates issues 120 shares of $1 stated value shares. It received $10 per share from purchasers of the stock. 3) Hippies' Peace Incorporated issues 50 shares of $100 par value preferred stock for $6,000 cash
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