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If shares of preferred stock are sold at par value for cash, the transaction would...

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Accounting

If shares of preferred stock are sold at par value for cash, the transaction would be entered by:

A. debiting Cash and crediting Preferred Stock.

B.debiting Cash and crediting Paidin Capital in Excess of Par.

C. debiting PaidIn Capital in Excess of Par and crediting Preferred Stock.

D. debiting Preferred Stock and crediting Cash.

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