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Entity H issued 2,000 shares of its $1 par value common stock for $5 per share. Which of the following statements is correct? Common stock
Entity H issued 2,000 shares of its $1 par value common stock for $5 per share. Which of the following statements is correct?
Common stock will be credited for $2,000. | ||
Cash should be debited for $8,000. | ||
Common stock will be credited for $10,000. | ||
Paid-in-capital-in-excess-of-par-value should be credited for $10,000. |
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