Florida Travel Inc. issues 5,000 shares of $5 pa r value common stock for ). The journal entry to record this issuance would include:
A) a debit to Paid-in Capital in Excess of Par of $60,000
B) a credit to Paid-in Capital in Excess of Par of $60,000
C) a credit to Common Stock for $25,000 and a debit to cash for $85,000
D) A and C
E) B and C
Answers: 2
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Florida Travel Inc. issues 5,000 shares of $5 pa r value common stock for ). The journal entry to re...
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