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Sigma Company is authorized to issue 100,000 shares of common stock. The company sold 5,000 shares at $12 per share. Prepare journal entries to record

Sigma Company is authorized to issue 100,000 shares of common stock. The company sold 5,000 shares at $12 per share.

Prepare journal entries to record the sale of stock for cash under each of the following independent alternatives:

The stock has a par value of $5.

The stock has no par value but a stated value of $1 per share.

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