On january 1 2011 cedar company was authorized to issue

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On January 1, 2011, Cedar Company was authorized to issue 40,000 shares of $6 par common stock and 20,000 shares of $16 preferred stock. Given this information, if Cedar Company issued 12,000 shares of common stock for $10 per share on January 10, 2011, the entry to record the issuance of the stock would include a credit to which account and for what amount?

Reference no: EM13484134

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