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Rodriguez Corporation issues 1 8 , 0 0 0 shares of its common stock for $ 8 4 , 7 0 0 cash on February

Rodriguez Corporation issues

18, 000

shares of its common stock for $

84, 700

cash on February

20 .

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

The stock has a $

4

par value.

The stock has neither par nor stated value.

The stock has a $

2

stated value.

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