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Bentley Corporation received cash from issuing 12,000 shares of common stock at par on January 1, 2018. The stock has a par an value of
Bentley Corporation received cash from issuing 12,000 shares of common stock at par on January 1, 2018. The stock has a par an value of $0 05 per share. Which is the correct journal entry to record this transaction? OA. Cash is debited for $600, and Common Stock-$0.05 Par Value is credited for $600 O B. Paid-In Capital in Excess of Par-Common is debited for S 11,400, and Common Stock-S005 Par Value is credited for $11,400 O C. Cash is credited for $12,000 and Common Stock-$0.05 Par Value is debited for $12,000. O D. Cash is debited for $12,000, Common Stock-$0 05 Par Value is credited for $600, and Paid- In Capital in Excess of MR Par-Common credited for $11,400
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