Kim's Inc. issued common stock in exchange for $10,000 cash. Which of the following journal entries is recorded correctly? DR: Cash $10,000: CR: Sales Revenue $10,000 DR: Common Stock $10,000; CR: Cash $10,000 Incorrect. Read - 3.5 Use Journal Entries to Record Transactions and Post to TAccounts. Review the impact on financial statements by (1) examining if a transaction is an accounting transaction which has a monetary impact, (2) classifying the accounts that may be affected and the accounting equation category they may fall under. and (3) determining if the accounts will increase or decrease affecting debit or credit side. DR: Dividends $10,000: CR: Cash $10,000