Question: Alley Corporation recently organized The company issued common stock to
Alley Corporation recently organized. The company issued common stock to an inventor in exchange for a patent with a market value of $ 56,000. In addition, Alley received cash for 2,000 shares of its $ 10 par preferred stock at par value and 9,000 shares of its no-par common stock at $ 45 per share. Without making journal entries, determine the total paid-in capital created by these transactions.
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