ABC Furniture issues/sells 2000 shares of $1 par value common stock for cash at $10 per share. What is the journal entry...
ABC Furniture issues/sells 2000 shares of $1 par value common stock for cash at $10 per share. What is the journal entry to record the issuance of stock?
Homework Answers
| Account | Debit | Credit |
|---|---|---|
| Cash (2000*10) | 20,000 | |
| Common stock (2000*1) | 2000 | |
| Paid in capital in excess of par - common stock | 18,000 |
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ABC Furniture issues/sells 2000 shares of $1 par value common stock for cash at $10 per share. What is the journal entry...
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