A corporation issued 320 shares of its $5 par value common stock in payment of a...

 

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A corporation issued 320 shares of its $5 par value common stock in payment of a $4.000 charge from its accountant for assistance in filing its charter with the state. The entry to record this transaction will include: Multiple Choice A $4,000 debit to Common Stock A $2,400 credit to Paid-in Capital in Excess of Par Value, Common Stock A $1.600 debit to Organization Expenses A $4,000 credit jo Common Stock A $4,000 credit to Cash A corporation issued 320 shares of its $5 par value common stock in payment of a $4.000 charge from its accountant for assistance in filing its charter with the state. The entry to record this transaction will include: Multiple Choice A $4,000 debit to Common Stock A $2,400 credit to Paid-in Capital in Excess of Par Value, Common Stock A $1.600 debit to Organization Expenses A $4,000 credit jo Common Stock A $4,000 credit to Cash

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