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What is the journal entry to record the exchange of stock

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Question - On January 1,2010, Peach Company issued 1,500 of its $20 par value common shares with a fair value of $60 per share in exchange for the 2,000 outstanding common shares of Swartz Company in a purchase transaction. Registration costs amounted to $1,700 paid in cash. Just prior to the acquistion.

What is the journal entry to record the exchange of stock?

Reference no: EM131778359

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