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Suppose 100 Common Shares Are Issued for $12

Question 95

Multiple Choice

Suppose 100 common shares are issued for $12.50 per share.The entry to record this issuance includes a:


A) credit to Retained Earnings for $1,250
B) credit to Common shares for $1,250
C) credit to Contributed Surplus for $250
D) debit to Preferred Shares for $1,000

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