Question
Sunshine Company issued 4,000 shares of its $5 par value common stock in payment of its attorney's bill of $80,000 The bill was for services
Sunshine Company issued 4,000 shares of its $5 par value common stock in payment of its attorney's bill of $80,000 The bill was for services performed in helping the company incorporate. Crain should record this transaction by debiting:
A. Legal Expense for $20,000
B. Organization Expense for $20,000
C. Organization Expense for $80,000
D. Legal Expense for $80,000
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Financial and Managerial Accounting the basis for business decisions
Authors: Jan Williams, Susan Haka, Mark Bettner, Joseph Carcello
16th edition
0077664078, 978-0077664077, 78111048, 978-0078111044
