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Business, 21.04.2021 01:20 zacharyminnick123

H. Tillman performed legal services for J. Laney. Due to a cash shortage, an agreement was reached whereby J. Laney. would pay H. Tillman a legal fee of approximately $12800 by issuing 3100 shares of its common stock (par $1). The stock trades on a daily basis and the market price of the stock on the day the debt was settled is $3.90 per share. Given this information, the journal entry for J. Laney. to record this transaction is:

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H. Tillman performed legal services for J. Laney. Due to a cash shortage, an agreement was reached w...
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