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Five hundred shares of $25 par common stock was exchanged for a piece of equipment with a fair market value of $13,500. The journal entry to record the transaction would include a

a) credit to paid in capital in excess of par common for $1000
b) credit to equipment for $12500
c) credit to common stock for $13500
d) debit to common stock for $12500

Respuesta :

Credit to paid - in capital in excess of par - common for $1000.

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