On December 1 SJ Company Issued 800 Shares of No-Par

question 68

Multiple Choice

On December 1 SJ Company issued 800 shares of no-par common stock for $7200.The stock has stated value of $2 per share? Use the following tabular analysis to record the receipt of cash and issuance of shares:

• A)Increase Cash and increase Common Stock for $7200.
• B)Increase Cash for $7200 and increase Common Stock $1600 and Sales Revenue $5600.
• C)Increase Cash for $7200 and increase Common Stock for $ 1600 and Paid-in Capital in Excess of Stated Value for $5600.
• D)Increase Sales Revenue and increase Cash for $7200.

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Definitions:

Specified Date

A particular day that has been designated for a certain event, deadline, or action.

Manufacturer Discounts

Price reductions offered by manufacturers to distributors, retailers, or end-users, often to encourage bulk purchases or promote new products.

Handling Customer Complaint

The process of addressing and resolving complaints made by consumers in a way that aims to maintain customer satisfaction and loyalty.

Expressing Regret

The act of showing sorrow or remorse over a mistake, fault, or unfortunate situation, often as a part of apologizing or conveying empathy.