During the current year JET Industries issued 5 million of its $1 par common shares to its underwriters for $25,000,000 less promotional and accounting services of $500,000 to effect the issue.
Required:
Prepare the journal entry to record the issuance of the shares.

Question

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The Answer of During the current year JET Industries issued 5 million of its $1 par common shares to its underwriters for $25,000,000 less promotional and accounting services of $500,000 to effect the issue.
Required:
Prepare the journal entry to record the issuance of the shares.

During the Current Year JET Industries Issued 5 Million of Its