When a corporation sells 10,000 shares of $10 par value common stock for $120,000, the Common stock account is credited for $100,000.

Name: When a corporation sells 10,000 shares of $10 par value common stock for $120,000, the Common stock account is credited for $100,000.
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The Common stock account is credited based on the par value of the shares sold, which is 10,000 shares times the $10 par value per share, totaling $100,000.

When a Corporation Sells 10,000 Shares of $10 Par Value