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Posted on Jul 15, 2024

Rodriguez Corporation issues 7 , 0 0 0 shares of its common stock for $ 1 6 0 , 0 0 0 cash on February

Rodriguez Corporation issues

7, 000

shares of its common stock for $

160, 000

cash on February

20 .

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

The stock has a $

20

par value.

The stock has neither par nor stated value.

The stock has a $

10

stated value.

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