A corporation issues 6,000 shares of $5 par value common stock for $8 cash per share. The

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A corporation issues 6,000 shares of $5 par value common stock for $8 cash per share. The entry to record this transaction includes:

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

b. A credit to Common Stock for $48,000.

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

d. A credit to Cash for $48,000.

e. A credit to Common Stock for $30,000.

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Financial Accounting Information For Decisions

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4th Edition

Authors: John J. Wild

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A corporation issues 6,000 shares of $5 par value common stock for $8 cash per share. The

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Financial Accounting Information For Decisions

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