Multiple Choice
If Lee Inc. issues 1,000 common shares for $ 5 per share,
A) Common Shares will be credited for $ 5,000.
B) Gain on Sale of Shares will be credited for $ 5,000.
C) Retained Earnings will be credited for $ 5,000.
D) The transaction will be recorded only in a note to the financial statements.
Correct Answer:
Verified
Correct Answer:
Verified
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