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Sun Corporation issues 500 shares of $8 par common stock for a patent on December 31. The stock is currently selling for $37 per share

Sun Corporation issues 500 shares of $8 par common stock for a patent on December 31. The stock is currently selling for $37 per share on the open market, and no significant impact on the market price is expected by the issuance of the additional shares Required: Prepare the journal entry to record this transaction

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