When a corporation issues no-par stock,it debits the asset received and credits the stock account.

Name: When a corporation issues no-par stock,it debits the asset received and credits the stock account.
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When a corporation issues no-par stock, it debits the asset received and credits the stock account. This is because the company does not assign a par value to the shares being issued, so the stock account is credited for the entire amount received.

When a Corporation Issues No-Par Stock,it Debits the Asset Received