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How much should Fox record

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Question - Fox Co. issues 30,000 shares of $1 par common stock at $9 market price and 3,000 shares of $20 par preferred stock at $30 market price. Fox receives a total bargain lump-sum price of $300,000 for this issuance of both classes of stock.  How much should Fox record to the Additional Paid-in Capital-Common Stock account in the entry for this issuance?

a. $15,000

b. $240,000

c. $195,000

d. $225,000

Reference no: EM132711302

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