During the current year, JET Industries issued 5.40 million of its $1 par common shares to its

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During the current year, JET Industries issued 5.40 million of its $1 par common shares to its underwriters for $25,400,000 less promotion and accounting services of $540,000 to effect the issuance.

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Prepare the journal entry to record the issuance of the shares.

Related Book For answer-question

Financial Accounting

ISBN: 978-1259222139

9th edition

Authors: Robert Libby, Patricia Libby, Frank Hodge

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Posted Date: May 10, 2023 11:36 AM

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During the current year, JET Industries issued 5.40 million of its $1 par common shares to its

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Expert Answer:

The total cost of the issuance of the shares is 25400000 540000 24860000 The journal ... View the full answer

Financial Accounting

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