Prepare the journal entry to record issuance of the stock, Accounting Basics

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Prepare the journal entry to record issuance of the stock

Soku Company issues 35,000 shares of $6 par value common stock in exchange for land and a building. The land is valued at $233,000 and the building at $365,000.

Prepare the journal entry to record issuance of the stock in exchange for the land and building.

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Accounting Basics: Prepare the journal entry to record issuance of the stock

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