Nelson Inc. sells 430 shares of its $16 par common stock for $31 per share. The entry would entail the following credit(s) :
A) Cash of $13,330.
B) Paid-in Capital in Excess of Par Value-Common for $6,880; Common Stock for $6,450.
C) Paid-in Capital in Excess of Par Value-Common for $6,450; Common Stock for $6,880.
D) Common Stock for $13,330.
Correct Answer:
Verified
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