On January 2,2012,the Hoover Corporation issued 25,000 shares of $10 stated-value common stock for $24 per share.Which of the following statements is true?
A) The Paid-in Capital in Excess of Stated Value account will increase by $350,000.
B) The Cash account will increase by $500,000.
C) The Stock Payable account will increase by $600,000.
D) The Common Stock account will increase by $600,000.
Correct Answer:
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