A corporation issued 100 shares of $100 par value preferred stock for $150 per share. The resulting

Question:

A corporation issued 100 shares of $100 par value preferred stock for $150 per share. The resulting journal entry would include which of the following?
A. A credit to common stock
B. A credit to cash
C. A debit to paid-in capital in excess of preferred stock
D. A debit to cash

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