What journal entry should albuquerque make to recognize

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Reference no: EM131912646

Problem

Marmon sells 10,000 and 8,000 shares of previously unissued common stock to the public for $32 and 20 per share. Albuquerque purchased none of this stock. What journal entry should Albuquerque make to recognize the impact of this stock transaction? (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Record the entry to recognize the impact of the sell of 8,000 shares.

Reference no: EM131912646

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