A new corporation issuing a common, - 4265

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Request Description

A new corporation issuing a common, no-par value stock for cash would include a journal entry a debit to _____. 

A.   paid-in capital and a credit to retained earnings.

B.   cash and a credit to common stock.

C.   retained earnings and a credit to cash.

D.   cash and a credit to retained income.

Solution Description

A new corporation issuing a common, no-par value stock for cash would include a journal entry a debit to _____.