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Prepare the journal entry to record issuance

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Reference no: EM13950753

a. A corporation issued 6,000 shares of $10 par value common stock for $72,000 cash.

b. Soku Company issues 25,000 shares of $6 par value common stock in exchange for land and a building. The land is valued at $243,000 and the building at $372,000.

Prepare the journal entry to record issuance of the stock in exchange for the land and building. 

Reference no: EM13950753

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