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On June 1, 2019, 4,000 shares of $10 par value common stock are issued in exchange for new equipment. The equipment has a fair market

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On June 1, 2019, 4,000 shares of $10 par value common stock are issued in exchange for new equipment. The equipment has a fair market value of $116,000. In recording this transaction, what amount should be allocated to APIC - CS? Select one: O a. 112,000 O b. 76,000 O c. 116,000 O d. 40,000

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