Question: Exercise 1 1 - 3 ( Algo ) Accounting for par, stated, and no - par stock issuances LO P 1 Rodriguez Corporation issues 7

Exercise 11-3(Algo) Accounting for par, stated, and no-par stock issuances LO P1
Rodriguez Corporation issues 7,000 shares of its common stock for $147,200 cash on February 20. Prepare journal entries to record this event under each of the following separate situations.
The stock has a $16 par value.
The stock has neither par nor stated value.
The stock has a $8 stated value.

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