Question
A company issued 40 shares of $1 par value common stock for $5,000. The journal entry to record the transaction would include which of the
A company issued 40 shares of $1 par value common stock for $5,000. The journal entry to record the transaction would include which of the following?
debit of $4,000 to common stock
credit of $20,000 to common stock
credit of $40 to common stock
debit of $20,000 to common stock
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Intermediate accounting
Authors: J. David Spiceland, James Sepe, Mark Nelson
7th edition
978-0077614041, 9780077446475, 77614046, 007744647X, 77647092, 978-0077647094
