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What amount should traylor debit the licensing agreement

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Reference no: EM132795830

Problem 1: Paul Mitchell purchased a licensing agreement for $40,000 prior to going to work for Traylor Corporation. Traylor agreed to issue 2,000 shares of common stock to Mitchell in exchange for his licensing agreement, which now has a value of $30,000. At the time of the stock exchange, Traylor's $2 par value stock was selling for $14 per share. For what amount should Traylor debit the licensing agreement?

Reference no: EM132795830

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