Which of the following is included in the entry to record the issuance of 5,000 shares of $8 par value common stock at $22 per share cash?
A) Cash is debited for $110,000.
B) Common Stock is debited for $40,000.
C) Common Stock is credited for $110,000.
D) Paid-In Capital in Excess of Par-Common is debited for $70,000.
Correct Answer:
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