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Rodriguez Corporation issues 8,000 shares of its common stock for $138,100 cash on February 20. Prepare journal entries to record this event under each of
Rodriguez Corporation issues 8,000 shares of its common stock for $138,100 cash on February 20. Prepare journal entries to record this event under each of the following separate situations.
1.The stock has a $12 par value.
2.The stock has neither par nor stated value.
3. The stock has a $6 stated value.
Journal entry worksheet A B C Record the issue of 8,000 shares of $12 par value common stock for $138,100 cash. Note: Enter debits before credits. Journal entry worksheet Record the issue of 8,000 shares of $6 stated value common stock for $138,100 cash. Note: Enter debits before credits. Journal entry worksheet Record the issue of 8,000 shares of no-par, no-stated value common stock for $138,100 cash. Note: Enter debits before creditsStep by Step Solution
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