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Problem 13-2 Leineke Corporation issued 375,000 shares of common stock (par value $5) for $19 per share on June 1, 2020. Prepare the journal entry
Problem 13-2 Leineke Corporation issued 375,000 shares of common stock (par value $5) for $19 per share on June 1, 2020. Prepare the journal entry to record this transaction. Problem 13-3 Ferrero Corporation sold 26,450 shares of common stock to stockholders at the time of its incorporation. Ferrero received $55 per share for the stock. Prepare the journal entry to record the stock issue in each of the following scenarios: a. Assume that the stock has a par value per share of $10. b. Assume that the stock has a stated value of $5 per share. a C. Assume that the stock has no par value and no stated value
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