The Mars Corporation: Journal Entries
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The Mars Corporation issued 2,000 shares of its $10 par value common stock for $70,000. The Mars Corporation also incurred $1,500 of costs associated with issuing the stock.
Prepare The Mars Corporation's journal entry to record the issuance of the company's stock.
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Solution Summary
Instructions on how to prepare journal entries recording issuance of a company's stock are provided.
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Journal Entry for Mars Corporation
DR Cash 70000
CR Share capital ...
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