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Tesla Inc. issued 5,000 shares of common stock at $70 per share. Calculate the total amount received from the issuance and provide the journal entry

Tesla Inc. issued 5,000 shares of common stock at $70 per share. Calculate the total amount received from the issuance and provide the journal entry to record the transaction.

Requirements:

Calculate the total amount received from the issuance of common stock.
Provide the journal entry to record the issuance.

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