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Rodriguez Corporation issues 10,000 shares of its common stock for $228,600 cash on February 20....

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Accounting

Rodriguez Corporation issues 10,000 shares of its common stock for $228,600 cash on February 20. Prepare journal entries to record this event under each of the following separate situations.

  1. The stock has a $20 par value.
  2. The stock has neither par nor stated value.
  3. The stock has a $10 stated value.

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