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What is metlock journal entry to record the transaction

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Reference no: EM132419035

Problem: In 2020, Metlock Inc. issued 1,100 shares of $10 par value common stock for land worth $39,200.

Required:

Question 1: What is Metlock's journal entry to record the transaction?

Question 2: What is the effect the transaction has on cash?

Question 3: How is the transaction reported on the statement of cash flows?

Reference no: EM132419035

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