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Prepare journal entries to record event for rodriguez corp

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Reference no: EM132961015

Problem 1: Rodriguez Corporation issues 5,000 shares of its common stock for $98,800 cash on February 20. Prepare journal entries to record this event under each of the following separate situations.

  • The stock has a $12 par value.
  • The stock has neither par nor stated value.
  • The stock has a $6 stated value.

Reference no: EM132961015

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