The entry to record issuance of 6,000 shares of $5 par value common stock for $8 cash

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The entry to record issuance of 6,000 shares of $5 par value common stock for $8 cash per share includes a

a. Debit to Paid-In Capital in Excess of Par Value for $18,000.

b. Credit to Common Stock for $48,000.

c. Credit to Paid-In Capital in Excess of Par Value for $30,000.

d. Credit to Cash for $48,000.

e. Credit to Common Stock for $30,000.

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Related Book For answer-question

Financial And Managerial Accounting

ISBN: 9781260728774

9th Edition

Authors: John J. Wild

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Question Posted: Jan 23, 2024 12:00 PM

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The entry to record issuance of 6,000 shares of $5 par value common stock for $8 cash

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Financial And Managerial Accounting

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