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Q2 On January 1, 20X1, Spinn Coffee Company (the buyer) purchased a piece of equipment by issuing stock to the seller as noted below. Number

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On January 1, 20X1, Spinn Coffee Company (the buyer) purchased a piece of equipment by issuing stock to the seller as noted below. Number of $1 par value common 5,000 stock Fair value per share $15.00 If the stock is actively traded on the stock market, what is the cost or value of the equipment recorded by Spinn at time of purchase? Numeric Response

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