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problem: Kim, Inc. issued 5,000 shares of stock at a stated value of $10/share. The total issue of stock sold for $15 per share. The journal entry to record this transaction would include a;

[A] Credit to Paid-in Capital in Excess of Par Value for $25,000

[B] Credit to Common Stock for $75,000

[C] Debit to Cash for $50,000

[D] Credit to Common Stock for $50,000

Cost Accounting, Accounting

  • Category:- Cost Accounting
  • Reference No.:- M922885

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