TrustOne Corporation issued 10,000 shares of no-par common stock, $3 stated value in exchange for $45,000. The entry to record the issuance includes a:
A) Debit to Cash for $30,000 and a debit to Paid in Capital in Excess of Stated Value of
$15,000.
B) Debit to Common Stock for $45,000.
C) Credit to Common Stock for $45,000.
D) Credit to Common Stock for $30,000.
Correct Answer:
Verified
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