Bradley Corporation Issued 10,000 Shares of Common Stock on January

question 53

Multiple Choice

Bradley Corporation issued 10,000 shares of common stock on January 1, 2013. The stock has par value of $0.01 per share and was sold for cash at par. The journal entry to record this transaction would:

• A) debit Cash $100 and credit Common stock $100.
• B) credit Cash $10,000 and debit Common stock $10,000.
• C) debit Paid-in capital $9,900,and credit Common stock $9,900.
• D) debit Cash $10,000, credit Common stock $100, and credit Paid-in capital $9,900.

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