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QUESTION 28 South Beach Apparel issued 10,000 shares no par value stock for 55 per share. What is true about the journal entry io record

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QUESTION 28 South Beach Apparel issued 10,000 shares no par value stock for 55 per share. What is true about the journal entry io record the issuance? Debit Common 9 tocks 10,000 . Credit Cash $50,000 Credit Common Stock 550,000 Credit Additional Paid-in Copital $40,000

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