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Recording Entries for Common Stock Issuance Record journal entries for the following separate transactions. Note: As needed, use the account Common Stock for parts a
Recording Entries for Common Stock Issuance Record journal entries for the following separate transactions. Note: As needed, use the account "Common Stock" for parts a through e, and use the accounts "Common Stock-Class A" and "Common Stock-Class B" for parts f and g. a. Max Inc. issued 9,000 shares of $1 par value common stock for $20 per share. . Max Inc. issued 900 shares of no-par common stock for $18 per share. d. Max Inc. issued 9,000 shares of $1 par value common stock for $18 per share and incurred $1,800 in legal fees related to the stock issuance. e. Max Inc. issued 18,000 shares of common stock ( $1 par) in exchange for equipment with a fair value of $320,400. Common stock is $10 per share. e. Jan. 1 To record the issuance of stock. f. Jan. 1 To record the issuance of stock. g. Jan. 1 To record the issuance of stock. Cash Equipment Investment in Stock Dividends Payable Property Dividends Payable Preferred Stock Common Stock Common Stock-Class A Common Stock-Class B Common Stock Dividends Distributable Paid-in Capital in Excess of Par-Common Stock Paid-in Capital in Excess of Par-Class A Common Stock Paid-in Capital in Excess of Par-Class B Common Stock Paid-in Capital in Excess of Stated Value-Common Stock Paid-in Capital in Excess of Par-Preferred Stock Paid-in Capital-Retired Stock Paid-in Capital-Treasury Stock Retained Earnings Treasury Stock
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