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What amount should be reported in paid-in capital account

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Problem - Robust Robots (RR) recently issued 100,000 shares of common stock at $7 per share. The stock has a par value equal to $3 per share. What amount of the $700,000 that RR raised should be reported in the "Common stock at par" account, and what amount should be reported in the "Paid-in capital" account?

Reference no: EM132697121

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