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Rodriguez Corporation issues 2 0 , 0 0 0 shares of its common stock for $ 1 5 3 , 7 0 0 cash on

Rodriguez Corporation issues

20, 000

shares of its common stock for $

153, 700

cash on February

20 .

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

The stock has a $

6

par value.

The stock has neither par nor stated value.

The stock has a $

3

stated value.

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