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If larger company issues 2600 shares of $8 par value common stock for 44,200, determine...

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Accounting

If larger company issues 2600 shares of $8 par value common stock for 44,200, determine the result of the transaction on the accounts.
A. Common stock will be credited for $44,200
B. Paid-in capital in excess of par value will be credited for $20,800
C. Cash will be debited for $20,800
D. Paid in capital in excess of par value will be credited for $23,400

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