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1. Caribbean Corporation began operations on April 1 by issuing 60,000 shares of $5 par value common stock for cash at $13 per share. On April 19, it issued 2,000 shares of common stock to attorneys in settlement of their bill of $27,500 for organization costs. Journalize both issuances, assuming the stock is not publicly traded.
define the generally accepted accounting principles that justify making adjusting entries and speculate on the primary
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Determine the amount of cost in the Raw Materials, Work in Process, and Finished Goods inventory accounts as the date of the tornado touchdown.
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