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ABC Inc. issued 10,000 shares of $1 par value stock for $5 per share. What is true about the journal entry to record the issuance?
ABC Inc. issued 10,000 shares of $1 par value stock for $5 per share. What is true about the journal entry to record the issuance?
Debit Common Stock $10,000.
| ||
Credit Cash $50,000. | ||
Credit Common Stock $50,000. | ||
Credit Additional Paid-In Capital $40,000. |
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