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A corporation sold 15,000 shares of its $10 par value common stock at a cash price of $15 per share. The entry to record this transaction would include:
a. A debit to Paid-in Capital in Excess of Par Value, Common Stock for $75,000.
b A credit to Common Stock for $225,000.
c A debit to Cash for $150,000.
d A credit to Common Stock for $150,000.
e A credit to Paid-in Capital in Excess of Par Value, Common Stock for $225,000.
Record the following transactions in the general journal - After recording the transactions listed above, post to the general ledger.
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