Business, 17.12.2020 17:20 lanakay2006

Comfort Mattresses, Inc. sold 26,000 shares of its $1 par value common stock at a cash price of $12 per share. The entry to record this transaction would be: A. Debit Cash $312,000; credit Common Stock $26,000; credit Paid-in Capital in Excess of Par Value. Common Stock $206,000.
B. Debit Cash for $312,000; credit Common Stock $312,000.
C. Debit Common Stock $26,000; debit Paid-in Capital In Excess of Par Value, Common Stock $286,000; credit Cash $312,000.
D. Debit Cash $312,000; credit Stock Liability $286,000; credit Common Stock $26,000.
E. Debit Common Stock $26,000; credit Cash $26,000.

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Comfort Mattresses, Inc. sold 26,000 shares of its $1 par value common stock at a cash price of $12...

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