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Western Wear Clothing issues 2,400 shares of its $0.01 par value common stock to provide funds for further expansion. Assuming the
issue price is $11 per share, record the issuance of common stock. (If no entry is required for a particular transaction/event, select
"No Journal Entry Required" in the first account field.)
? Answer is complete but not entirely correct.
No Transaction
1 1 Cash
Common Stock
General Journal
Additional Paid-in Capital Debit Credit
33,000 ? 30 ?
32,970 ?