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A company sells 1 million shares of stock with no par value for $15 a share. In recording the transaction, it would: a. debit Cash
A company sells 1 million shares of stock with no par value for $15 a share. In recording the transaction, it would: a. debit Cash for $20,000 and credit Common Stock for $20,000. b. debit Cash for $15 million and credit Common Stock for $15 million c. debit Cash for $15 million, credit Common Stock for $20,000 and credit Additional Paid-in Capital for $14,980,000. d. debit Cash for $20,000, debit Capital Receivable for $14,980,000, credit Common Stock for $20,000 and credit Additional Paid-in Capital for $14,980,000
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