Prepare entries to record the transactions for Maine Corp.: a. Issued 2,000 shares of $10 par common

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Prepare entries to record the transactions for Maine Corp.: a. Issued 2,000 shares of $10 par common stock at $72 for cash. If an amount box does not require an entry, leave it blank or enter”0″ b. Issued 2,500 shares of common stock in exchange for land with a fair market price of $130,000.