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Stan Systems completed the following stock issuance transactions: May 19: Issued 1.100 shares of $1 par value common stock for cash of $12.50 per share.

Stan Systems completed the following stock issuance transactions:

May 19: Issued 1.100 shares of $1 par value common stock for cash of $12.50 per share.

Requirements:

1. Journalize the transactions.

2. How much paid-in capital did these transactions generate for Stan Systems?

Please only attempt if you can solve the question with a proper explanation. Please do not copy from Chegg.

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