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expand operations, Aragon Consulting issued 1,100 shares of previously unissued common stock with a par...

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Question

Accounting

expand operations, Aragon Consulting issued 1,100 shares of previously unissued common stock with a par value of $1. The price for the stock was $50 per share.

Required:

1-a. Complete the table below, indicating the account, amount, and direction of the effect for the stock issuance.

1-b. Prepare the journal entry for the stock issuance.

2-a. Complete the table below, indicating the account, amount, and direction of the effect for the stock issuance with a par value of $2.

2-b. Prepare the journal entry for the stock issuance, if the par value were $2 per

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