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Leo's Health Food Store decides to incorporate and sells stock, Leo's Health Food Store, Inc. sells 10,000 shares of $10 par value common stock for
Leo's Health Food Store decides to incorporate and sells stock, Leo's Health Food Store, Inc. sells 10,000 shares of $10 par value common stock for $25 per share. What is the journal entry to record this transaction? Multiple Choice DR Cash $250,000 and CR Owners' Equity $250,000 DR Cash $250,000, and CR Preferred Stock $250,000 DR Cash $250.000 CR Common Stock $100.000; CR Paid-in Capital in excess of Par Valve Common $150.000 DR Cash $250,000 CR Common Stock $100,000 CR Paid in Capital in Excess of Stated Value - Common $150,000
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