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Need Help Solving: A corporation sold 10,500 shares of its $10 par value common stock...

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Accounting

Need Help Solving:

A corporation sold 10,500 shares of its $10 par value common stock at a cash price of $15 per share. The entry to record this transaction would include:

Multiple Choice

A credit to Paid-in Capital in Excess of Par Value, Common Stock for $157,500.

A credit to Common Stock for $157,500.

A credit to Common Stock for $105,000.

A debit to Paid-in Capital in Excess of Par Value, Common Stock for $52,500.

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