Crain Company issued 2,000 shares of its $5 par value common stock in payment of its attorney's

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Crain Company issued 2,000 shares of its $5 par value common stock in payment of its attorney's bill of $30,000. The bill was for services performed in helping the company incorporate. Crain should record this transaction by debiting.

Legal Expense for $10,000. Legal Expense for $30,000. Organization Expense for $10,000. Organization Expense for $30,000?

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Advanced Accounting

ISBN: 978-0538480284

11th edition

Authors: Paul M. Fischer, William J. Tayler, Rita H. Cheng

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Posted Date: Jan 03, 2021 03:21 AM

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Crain Company issued 2,000 shares of its $5 par value common stock in payment of its attorney's

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