Shinobi Corporation issued 600 shares of no-par common stock for $10,200. Prepare Shinobis journal entry if (a)

Question:

Shinobi Corporation issued 600 shares of no-par common stock for $10,200. Prepare Shinobi’s journal entry if

(a) The stock has no stated value, and

(b) The stock has a stated value of $2 per share.

Common Stock
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