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Business, 17.06.2020 17:57 loveoneonly4379

When Wisconsin Corporation was formed on January 1, the corporate charter provided for 100,000 shares of $10 par value common stock. During its first month of operation, the corporation issued 8,500 shares of stock at a price of $16 per share. The entry to record the above transaction would include a:. a) credit to Common Stock for $136,000
b) debit to Common Stock for $85,000
c) debit to Cash for $85,000d) credit to Paid-In Capital in Excess of Par-Common Stock for $51,000.

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