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What is the journal entry for the sale of 4,000 shares of no-par common stock for $12/share? A)Debit Common Stock 48,000; Credit Cash 48,000 B)Debit
What is the journal entry for the sale of 4,000 shares of no-par common stock for $12/share?
A)Debit Common Stock 48,000; Credit Cash 48,000
B)Debit Cash 48,000; Credit Common Stock 48,000
C)No entry is required for no-par common stock.
D)Debit Cash 48,000; Credit Common Stock 4,000, Credit Paid-In Capital in Excess of Par-Common 44,000
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