Question 22 (2 points) Brandon Corporation sold 10,000 shares of $5 par value common stock at...

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Question 22 (2 points) Brandon Corporation sold 10,000 shares of $5 par value common stock at $7 per share. The journal entry

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Answer 1

Answer #1

Solution:

The journal to record issue of common stock is "Debit Cash $70,000; Credit common stock $50,000, Credit Paid in capital in excess of par - common $20,000"

Hence 2nd option is correct.

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Answer 2

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