All City Realty,Inc.issued 7000 shares of $9 stated value common stock for $16 per share.The journal entry to record this transaction includes a credit to ________.
A) Common Stock for $112,000
B) Paid-In Capital in Excess of Stated - Common for $63,000
C) Common Stock - $9 Stated Value for $49,000
D) Paid-In Capital in Excess of Stated - Common for $49,000
Correct Answer:
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