Flint Company borrowed $46,800 on November 1, 2020, by signing a $46,800, 9%, 3-month note. Prepare Flint's November 1, 2020, entry; the December 31, 2020, annual adjusting entry; and the February 1, 2021, entry.
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A corporation issues 2,000 shares of common stock for $32,000. The stock has a stated value of $12 per share. The journal entry to record the stock issuance would include a credit to Common Stock for a.$32,000. b.$2,000. c.$12,000. d.$24,000.
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