Friday, October 9, 2020

Issuing common stock for $5,000 cash is recorded as:

Issuing common stock for $5,000 cash is recorded as:


A) Debit Cash $5,000, credit Service Revenue $5,000.

B) Debit Cash $5,000, credit Common Stock $5,000.

C) Debit Cash $5,000, credit Dividends $5,000.

D) Debit Common Stock $5,000, credit Cash $5,000.


Answer: B

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