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Accounting

A corporation issued 450 shares of its $20 par value common stock in payment of a $9,610 charge from its accountant for assistance in filing its charter with the state. The entry to record this transaction will include:

A $9,610 credit to Cash.

A $610 credit to Contributed Capital in Excess of Par Value, Common Stock.

A $9,610 credit to Common Stock.

A $9,610 credit to Legal Expenses.

A $4,500 debit to Organization Expenses.

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Financial Accounting, Accounting

Category:- Financial Accounting
Reference No.:- M91962972

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