Cecil Thomas pays ($12,000.00) for 2,000 shares of ($5.00) stated value common stock of Datkins, Inc. A

Question:

Cecil Thomas pays $$12,000.00$ for 2,000 shares of $$5.00$ stated value common stock of Datkins, Inc. A year later, Mr. Thomas sells the 2,000 shares of stock to Sally Gilliam for a total of $$14,000.00.$ Ms. Gilliam sends a notice to Datkins so that ownership can be changed on the corporation's stock records. An accounting clerk at Datkins is not sure of the correct journal entry. What advice would you give the accounting clerk?

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