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Rodriguez Corporation issues 1 2 , 0 0 0 shares of its common stock for $ 2 5 4 , 9 0 0 cash on

Rodriguez Corporation issues

12, 000

shares of its common stock for $

254, 900

cash on February

20 .

Prepare journal entries to record this event under each of the following separate situations.

The stock has a $

18

par value.

The stock has neither par nor stated value.

The stock has a $

9

stated value.

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