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Record the journal entries for the following facts: Issued 500 shares of stock for a backhoe. The par value of the stock is $5 The

  1. Record the journal entries for the following facts:
    1. Issued 500 shares of stock for a backhoe.
    2. The par value of the stock is $5
    3. The backhoe has a sticker price of $65,000.
    4. The average discount on sticker that the seller provides her customers on backhoes is six percent.

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