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Which of the Following Journal Entries Is Correct When Common \quad

Question 24

Multiple Choice

Which of the following journal entries is correct when common stock is sold for cash at a price greater than par value?


A) Cash
\quad Common stock
\quad Gain on sale of stock
B) Cash
Additional paid-in capital
\quad Common Stock
C) Cash
\quad Common Stock
D) Cash
\quad Common stock
\quad Additional paid-in capital

Correct Answer:

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