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A firm issues 10,000 shares of $1 par-value common stock in exchange for $250,000. The firm paid a commission of $10,000 to their investment
A firm issues 10,000 shares of $1 par-value common stock in exchange for $250,000. The firm paid a commission of $10,000 to their investment banker for arranging the transaction. For the entry to record issuance of common stock: O Common Stock increases $250,000 Stockholders' Equity decreases by $10,000 O Common Stock increases $240,000 O Assets increase $250,000 O Assets increase $240,000
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