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South Beach Apparel issued 14,000 shares of $3 par value for $15 per share. What is true about the journal entry to record the issuance?

South Beach Apparel issued 14,000 shares of $3 par value for $15 per share. What is true about the journal entry to record the issuance?

Credit Common Stock $210,000 Credit Cash $210,000 Debit Common Stock $42,000 Credit Additional Paid-In Capital $168,000

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