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ABC Company issues 100,000 share of its no par common stock for $20 per share. The journal entry would include: A.) A credit to Common

ABC Company issues 100,000 share of its no par common stock for $20 per share. The journal entry would include:

A.) A credit to Common Stock of $2,000,000

B.) A credit to Cash of $2,000,000

C.) A credit to Retained Earnings of $2,000,000

D.) A credit to Notes payable of $2,000,000

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Question

ABC Company issues 100,000 share of its no par common stock for $20 per share. The journal entry would include: A.) A credit to Common

ABC Company issues 100,000 share of its no par common stock for $20 per share. The journal entry would include: A.) A credit to Common Stock of $2,000,000 B.) A credit to Cash of $2,000,000 C.) A credit to Retained Earnings of $2,000,000 D.) A credit to Notes payable of $2,000,000

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ABC Company issues 100,000 share of its no par common stock for $20 per share. The journal entry would include:

A.) A credit to Common Stock of $2,000,000

B.) A credit to Cash of $2,000,000

C.) A credit to Retained Earnings of $2,000,000

D.) A credit to Notes payable of $2,000,000