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A corporation issues 5,000 shares of common stock for $160,000. The stock has a stated value of $15 per share. What amount of credit to

A corporation issues 5,000 shares of common stock for $160,000. The stock has a stated value of $15 per share. What amount of credit to Common Stock would the journal entry to record the stock issuance include?

Select the correct answer.

$75,000

$85,000

$5,000

$160,000

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