Multiple Choice
A company issues $20 million in new stock.It later uses the cash received to pay off promissory notes.What accounts are affected by these two transactions?
A) Common Stock, Cash, and Notes Payable.
B) Common Stock, Cash, Investments, and Notes Payable.
C) Cash, Common Stock, and Accounts Payable.
D) Common Stock, Investments, and Notes Payable.
Correct Answer:
Verified
Correct Answer:
Verified
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