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What total contributed capital amounted to

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CC Corporation has 50,000 shares of P10 par ordinary shares authorized. The following transactions took place during 2019, the first year of the corporation's existence:

Sold 5,000 ordinary shares for P18 per share.
Issued 5,000 ordinary shares in exchange for a patent valued at P100,000.

Problem 1: At the end of the CC's first year, total contributed capital amounted to?

Reference no: EM132894481

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