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Prepare the journal entry for transaction

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S W Metals Corporation issues 1,000 shares of $100 par common stock for equipment. Prepare the journal entry for this transaction if:

(a) The market value of the equipment is $90,000 and the market value of the stock is unknown.

(b) The market value of the stock is $115,000 and the market value of the equipment is unknown.

Both market values are unknown.

Reference no: EM13513439

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