Essay
Prepare entries to record the following: (a) Issued 1,000 shares of par common stock at for cash.
(b) Issued 1,400 shares of no-par common stock in exchange for equipment with a fair market price of .
(c) Purchased 100 shares of treasury stock at .
(d) Sold 100 shares of treasury stock purchased in (c) at .
Correct Answer:

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(b) ...
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