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27 March, 01:05

Vanya Inc's charter authorizes 1,000 shares of stock at a stated value of $1 par share. Vanya sells 50 shares of stock at its initial offering for $10 per share. The journal entry to record this transaction will include which of the following entries?

A. Credit to Common stock for $500

B. Debit to common stock for $100

C. Credit to cash for $500.

D. Credit to Common stock for $50.

E. Debit to Cash for $500.

F. Credit to Paid in Capital, in Excess of stated Value for $450

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  1. 27 March, 05:50
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    Credit to Paid-In Capital, in Excess of Stated Value for $450Debit to Cash for $500Credit to Common Stock for $50
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