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A corporation issued 290 shares of its $5 par value common stock in payment of a $3,700 charge from its accountant for assistance in filing
A corporation issued 290 shares of its $5 par value common stock in payment of a $3,700 charge from its accountant for assistance in filing its charter with the state. The entry to record this transaction will include:
OPTIONS:
1. A $2,250 credit to Paid-in Capital in Excess of Par Value, Common Stock.
2. A $1,450 debit to Organization Expenses.
3. A $3,700 debit to Legal Expenses.
4. A $3,700 credit to Common Stock.
5. A $3,700 credit to Cash.
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