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a. What is the Journal Entry for McMillan Company issued 2,500 shares of its $2 par...

a. What is the Journal Entry for McMillan Company issued 2,500 shares of its $2 par value common stock for $20 per share.

b. The par value of common stock represents:

  A nominal dollar amount assigned to a share of stock that has no economic significance.

The fair market value of a share of stock

The maturity value of a share of stock.

The book value of a share of stock

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