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If a company issues 1,000 shares of $2 par value common stock at a market price of $30 per share, which of the following is
If a company issues 1,000 shares of $2 par value common stock at a market price of $30 per share, which of the following is the correct balance sheet entry?
A. | Increase revenues by $30,000 |
B. | Increase cash by $30,000 and increase contributed capital by $30,000 |
C. | Increase common stock and cash by $2,000 |
D. | Increase cash by $30,000 and increase earned capital by $30,000 |
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