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Business, 19.11.2019 06:31 montgomerykarloxc24x

Sanderson sofas, a family-owned corporation, issued 6.75% bonds with a face amount of $12 million, together with 2 million shares of its $1 par value common stock, for a combined cash amount of $22 million. the market value of sanderson's stock cannot be determined. the bonds would have sold for $9 million if issued separately. sanderson should record for paid-in capital - excess of par on the transaction in the amount of:

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