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Question
Alma Corp. issues 1,000 shares of $10 par common stock at $14 per share. When the transaction is journalized, credits are made to
a. Common Stock, $14,000
b. Common Stock, $10,000, and Paid-In Capital in Excess of Par—Common Stock, $4,000
c. Common Stock, $4,000, and Paid-In Capital in Excess of Stated Value, $10,000
d. Common Stock, $10,000, and Retained Earnings, $4,000
Answer
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