Multiple Choice
If Everly Company issues 1,000 shares of $5 par value common stock for $75,000, the account
A) Common Stock will be credited for $75,000.
B) Paid-in Capital in excess of Par Value will be credited for $5,000.
C) Paid-in Capital in excess of Par Value will be credited for $70,000.
D) Cash will be debited for $70,000.
Correct Answer:
Verified
Correct Answer:
Verified
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