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Squid Roe, Inc., is authorized to sell 1,000,000, $2 par value common stock. On May 3, it sold 40,000 at $10 each. The journal entry
Squid Roe, Inc., is authorized to sell 1,000,000, $2 par value common stock. On May 3, it sold 40,000 at $10 each. The journal entry to record the issuance of this stock includes a (Select all that apply.) credit Common Stock $80,000 debit Cash $400,000 credit Additional Paid-in Capital $320,000 credit Common Stock $400,000 debit Common Stock $10,000,000 credit Cash $400,000 debit Cash $10,000,000 O credit Common Stock $10,000,000 000
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