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1,000 shares of common stock with a par value of $5 is sold for $8. Which of the following is correct: A. Cash is debited

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1,000 shares of common stock with a par value of $5 is sold for $8. Which of the following is correct: A. Cash is debited for $5,000 B. Common Stock is debited for $5,000 C. Paid in Capital in Excess of Paris credited for $3,000 D. Common Stock is credited for $8,000

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