A company issued stock to investors for cash of $50,000. Choose the TRUE statement.
A) Cash will increase $50,000 and contributed capital will increase $50,000.
B) Cash will decrease $50,000 and retained earnings will decrease $50,000.
C) Cash will increase $50,000 and retained earnings will increase $50,000.
D) Cash will decrease $50,000 and contributed capital will increase $50,000.
Correct Answer:
Verified
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