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Today, Star Wars Co. issued 10,000 shares of $5 par common stock to Luke Corp. for a patent on a device. Luke had purchased the

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Today, Star Wars Co. issued 10,000 shares of $5 par common stock to Luke Corp. for a patent on a device. Luke had purchased the patent three years ago for $700,000; however, the patent just appraised for $1,000,000. Star Wars Co shares are actively traded on a stock market, and today they are selling for $85 per share. Star Wars' journal entry to record this transaction should be: 850,000 Patents Common stock 800,000 50,000 Additional paid-in capital 700,000 Patents Common stock Additional paid-in capital 50,000 650,000 1,000,000 Patents Common stock 50,000 950.000 Additional pald-in capital 850.000 Patents Common stock Additional paid-in capital 50,000 800,000

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