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Lam Inc. issued 30,000 shares of $1 par value common stock for $4 per share. The journal entry to record this issuance includes a: Group

Lam Inc. issued 30,000 shares of $1 par value common stock for $4 per share. The journal entry to record this issuance includes a:

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Credit to Cash for $120,000.

Credit to Common Stock for $120,000.

Credit to Paid in Capital in Excess of Par, Common for $90,000.

Debit to Cash for $30,000.

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