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A corporation issues 2000 shares of $5 par value common stock for $30 per share (received $60,000 cash). The journal entry to record this on the corporation’s books includes: a- Debit to paid in capital $60,000 b- Credit to cash for $60,000 c- Credit to paid in capital in excess of par value $50,000 d- Credit common stock for $60,000.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M93053190

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