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Which journal entry to record the issuance of stock includes

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Reference no: EM132797436

Problem 1: Red Company is authorized to issue 500,000 shares of $1 par value common stock. Red issues 50,000 shares for $250,000. The journal entry to record the issuance of stock includes a credit to:

a. Cash, $250,000
b. Common stock, $50,000
c. Common stock, $250,000
d. Common stock, $50,000, and Paid-in-capital, $225,000
e. None of the above

Reference no: EM132797436

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