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Question - To expand operations, Aragon Consulting issued 1,300 shares of previously unissued common stock with a par value of $1. The price for the stock was $50 per share. Complete the table below, indicating the account, amount, and direction of the effect for the stock issuance.
1- Prepare the journal entry for the stock issuance.
2-a. Complete the table below, indicating the account, amount, and direction of the effect for the stock issuance with a par value of $2.
2-b. Prepare the journal entry for the stock issuance, if the par value were $2 per share.
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