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What the journal entry would include a credit to

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Reference no: EM132796122

Problem 1: NCT Corporation issued 1,000 ordinary shares for $120 per share. The ordinary share has 100 par value per share. In recording the sale, the journal entry would include a credit to

a. Gain on sale for $20,000

b. Subscription Receivable for $100,000

c. Share Premium Ordinary Shares for $20,000

d. Ordinary Share Capital for $120,000

Reference no: EM132796122

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