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Prepare the journal entry on january

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Question - On January 16, 2017, 5,000 share with par value of P 100 per share of Leni Company were issued in exchange for the land. The land has a fair value of P 800,000 and the market value of the stock is P 150 per share. Prepare the journal entry on January 16, 2017 to record the acquisition?

Reference no: EM132932618

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