At the beginning of the year, Salina Company issued 10,000 shares of no par common stock for $100 each. The journal entry to record this transaction would include a

Name: At the beginning of the year, Salina Company issued 10,000 shares of no par common stock for $100 each. The journal entry to record this transaction would include a
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The company received $1,000,000 (10,000 shares x $100) in cash, so the journal entry would include a credit to Common Stock for the same amount.

At the Beginning of the Year, Salina Company Issued 10,000