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To expand operations, Aragon Consulting issued 1,000 shares of previously unissued common stock with a par value of $1. The price for the stock was $50 per share. Analyze the accounting equation effects and record the journal entry for the stock issuance. Would your answer be different if the par value were $2 per share? If so, analyze the accounting equation effects and record the journal for the stock issuance with a par value of $2.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9951425

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