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On march 15 it issues 5000 shares of common stock to

Cayman Resorts begins operations on March 1 by issuing 100,000 shares of $10 par value common stock for cash at $12 per share. On March 15, it issues 5,000 shares of common stock to attorneys in settlement of their bill of $50,000 for organization costs. Journalize the issuance of the shares, assuming the stock is not publicly traded.

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Accounting Basics: On march 15 it issues 5000 shares of common stock to

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Accounting Basics: On march 15 it issues 5000 shares of common stock to

Reference No:- TGS0822539

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