Lewelling Company issued 103,000 shares of its $1 par common stock to the Michael Morgan...
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Accounting
Lewelling Company issued 103,000 shares of its $1 par common stock to the Michael Morgan law firm as compensation for 4,300 hours of legal services performed. Morgans usual rate is $120 per hour. By what amount should Lewellings paid-in capital - excess of par increase as a result of this transaction?
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