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shares of $ 2 par common stock. In its first month, Ameen Rafts, Inc., completed the following transactions: ( Click the icon to view the
shares of $ par common stock. In its first month, Ameen Rafts, Inc., completed the following transactions:
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Requirement Record the transactions in the journal. Record debits first, then credits. Exclude explanations from any journal entries.
Jan : Issued shares of common stock to the promoter for assistance with issuance of the common stock. The promotional fee was $ Debit Organization Expense.
Journal Entry
tableAccountsDebit,CreditDan
tableJournal EntryDateAccounts,Debit,CreditJan
Jan : Issued shares of common stock for $ cash per share.
tableJournal EntryDateAccounts,Debit,Credit
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Jan Issued shares of common stock to the promoter for assistance with issuance of the common stock. The promotional fee was $ Debit Organization Expense. Issued shares of common stock to Jenny Stike and shares to Amy Ameen in return for cash equal to the stock's market value of $ per share. The two women were partners in Ameen Rafts Co Issued shares of common stock for $ cash per share.
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section of the balance sheet.
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