Multiple Choice
Centex,Inc.issued 50,000 shares of its $1 par value common stock for $20 per share.The journal entry to record the stock issue would include which of the following?
A) A credit to cash for $1,000,000.
B) A credit to additional paid-in capital for $1,000,000.
C) A credit to additional paid-in capital for $50,000.
D) A credit to common stock for $50,000.
Correct Answer:
Verified
Correct Answer:
Verified
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