When a company issues 26,000 shares of $5 par value common stock for $50 per share,...

  

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When a company issues 26,000 shares of $5 par value common stock for $50 per share, the journal entry for this issuance would include Multiple Choice A credit to Additional Paid-in Capital for $1,170,000 A debit to Cash for $130,000. A debit to Additional Paid-in Capital for $130,000. A credit to Common Stock for $1.300,000 When a company issues 26,000 shares of $5 par value common stock for $50 per share, the journal entry for this issuance would include Multiple Choice A credit to Additional Paid-in Capital for $1,170,000 A debit to Cash for $130,000. A debit to Additional Paid-in Capital for $130,000. A credit to Common Stock for $1.300,000

Answer rating: 100% (QA)

Number of shares issued 26000 shares Par value of 1 common share 5 Issued price of 1 common shar... View the full answer