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Major Sports plans to raise $5,750,000 in an initial public offering of its common stock....

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Accounting

Major Sports plans to raise $5,750,000 in an initial public offering of its common stock. The company is considering three options: a. Issue 115,000 shares of $1 par value common stock for $50 per share. b. Issue 575,000 shares of $1 par value common stock for $10 per share. c. Issue 1,150,000 shares of $1 par value common stock for $5 per share. Required: Record the issuance of common stock for each option. (

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