Jade Jewelers Issued 15,000 Shares of $1 Par Value Stock

question 108

Multiple Choice

Jade Jewelers issued 15,000 shares of $1 par value stock for $20 per share. What is true about the journal entry to record the issuance?

• A) Credit Common Stock $300,000.
• B) Credit Cash $300,000.
• C) Credit Common Stock $15,000.
• D) Debit Additional Paid-In Capital $285,000.

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