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Home Q & A Board Other Fields Homework Help Business Accounting
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upton upton
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7 years ago
Sunrise Online issued 500 shares of its $10 common stock in exchange for equipment with a fair market value of $7,500. The entry to record the transaction would include a:
A) credit to Common Stock Subscribed for $5,000.
B) debit to Equipment for $5,000.
C) credit to Common Stock for $5,000.
D) debit to Paid-in Capital in Excess of Par Value-Common for $2,500.
Textbook 
College Accounting: A Practical Approach

College Accounting: A Practical Approach


Edition: 13th
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OmpaOmpa
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7 years ago
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upton Author
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7 years ago
Helped a lot
derya1234
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Thanks for your help!!
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2 hours ago
Just got PERFECT on my quiz
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