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How much is the cash account debited for the issuance

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Problem 1: Two years ago, Stinky Industries commenced its business by issuing 500 shares of $0.05 par value stock for $20 per share. The company incurred issuance costs of $700, which were paid directly from the proceeds of the share sale. By how much is the cash account debited for this issuance?

Reference no: EM132883115

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