When no-par common stock with a stated value is issued for cash, the common stock account is credited for an amount equal to the cash proceeds.

Name: When no-par common stock with a stated value is issued for cash, the common stock account is credited for an amount equal to the cash proceeds.
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When no-par common stock with a stated value is issued for cash, the common stock account is credited for the stated value, and any excess over the stated value is credited to additional paid-in capital.

When No-Par Common Stock with a Stated Value Is Issued