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Sigma Company is authorized to issue 100000 shares of common stock The company sold 5,000 shares at $12 per share Prepare journal entries to record the sale of stock for cash under

Sigma Company is authorized to issue 100,000 shares of common stock. The company sold 5,000 shares at $12 per share. Prepare journal entries to record the sale of stock for cash under each of the following independent alternatives: (1) The stock has a par value of $5, (2) The stock has no par value but a stated value of $1 per share.View Solution:

Jun 24 2020 View more View Less

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