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6. Jahnke Corporation issued 10,000 shares of $2 par value ordinary shares for $11 per share. The journal entry to record the sale will include
6. Jahnke Corporation issued 10,000 shares of $2 par value ordinary shares for $11 per share. The journal entry to record the sale will include a. a debit to Cash for $20,000. b. a credit to Additional Paid-in Capital for $90,000. c. a credit to Common Stock for $110,000. d. a debit to Retained Earnings for $27,500.
a debit to Cash for $20,000.
b. a credit to Additional Paid-in Capital for $90,000.
c. a credit to Common Stock for $110,000.
d. a debit to Retained Earnings for $27,500.
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