Gilliam Corporation recently hired a new accountant with extensive experience
Gilliam Corporation recently hired a new accountant with extensive experience in accounting for partnerships. Because of the pressure of the new job, the accountant was unable to review his textbooks on the topic of corporation accounting. During the first month, the accountant made the following entries for the corporation’s capital stock.


Instructions
On the basis of the explanation for each entry, prepare the entry that should have been made for the capital stocktransactions.
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