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Question(s) / Instruction(s):

Aloha Corporation issues 6,000 shares of its common stock for $144,000 cash on February 20.

1.            Assume the stock has neither par nor stated value. Prepare journal entries to record this event. 2.           Assume the stock has a $20 par value. Prepare journal entries to record this event.

3.            Assume the stock has an $8 stated value. Prepare journal entries to record this event.

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