Question
East Asian Imports, Inc. issued 15,000 shares of stock at a stated value of $8 per share. The total issue of stock sold for $15
East Asian Imports, Inc. issued 15,000 shares of stock at a stated value of $8 per share. The total issue of stock sold for $15 per share. The journal entry to record this transaction would include a
a. debit to Cash for $120,000.
b. credit to Common Stock for $120,000.
c. credit to Paid-in Capital in Excess of Par for $125,000.
d. credit to Common Stock for $125,000.
(SHOW JOURNAL ENTRY)
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Energy Audit Of Building Systems An Engineering Approach
Authors: Moncef Krarti
3rd Edition
0367820463, 978-0367820466
