On January 2, 2019, AC Inc. issued 50,000 shares of its no-par-value common stock ($50 stated value)

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On January 2, 2019, AC Inc. issued 50,000 shares of its no-par-value common stock ($50 stated value) for cash at $51 a share.

Prepare a journal entry to record the issuance of the stock.

Journal entry worksheet

Record the issuance of 50,000 shares of no-par common stock at $51 per share (stated value, $50/share).

Note: Enter debits before credits.

Date	General Journal	Debit	Credit
Jan 02, 2019

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College Accounting Chapters 1-30

ISBN: 978-1259631115

15th edition

Authors: John Price, M. David Haddock, Michael Farina

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Posted Date: Jun 23, 2022 03:23 AM

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On January 2, 2019, AC Inc. issued 50,000 shares of its no-par-value common stock ($50 stated value)

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Date General Journal Debit Credit Jan 02 2019 ... View the full answer

College Accounting Chapters 1-30

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