ABC Company issues 1,000 shares of Common Stock with a $10 par value. ABC receives $25,000 cash

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ABC Company issues 1,000 shares of Common Stock with a $10 par value. ABC receives $25,000 cash in exchange for the shares. Record the journal entry to issue the common Stock. Your journal entry should be in the following format:

Debit Account Name Amount

Credit Account Name Amount

Related Book For answer-question

Accounting Principles

ISBN: 978-1119411482

13th edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

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Posted Date: Jan 05, 2024 06:39 AM

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ABC Company issues 1,000 shares of Common Stock with a $10 par value. ABC receives $25,000 cash

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Accounting Principles

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