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A corporation had stockholders' equity on January 1 as follows:

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A corporation had stockholders' equity on January 1 as follows: Common Stock, $5 par value, 1,000,000 shares authorized, 500,000 shares issued; Contributed Capital in Excess of Par Value, Common Stock, $1,000,000; Retained Earnings, $3,000,000. Prepare journal entries to record the following transactions:

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A corporation had stockholders' equity on January 1 as follows: Common Stock, $5 par
value, 1,000,000 shares authorized, 500,000 shares issued; Contributed Capital in Excess
of Par Value, Common...

This question was asked on Mar 26, 2010 and answered on Mar 26, 2010.

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