Issuance of Stated Value Stock
Illustrative Entry
| XX-XX-X9 |
Cash |
15,000,000 |
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| Common Stock |
3,000,000 |
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| Paid in Capital in Excess of SV |
12,000,000 |
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| To record issuance of 3,000,000 shares of $1 stated value common stock at $5 per share |