Bradley Corporation issued 10,000 shares ofcommon stock on January 1, 2013. The stock haspar value of $0.01 per share and was sold forcash at par. The journal entry to record thistransaction wouldO a. Debit Cash $10,000, credit Commonstock $100, and credit Paid-in capital$9,900.O b. Debit Paid-in capital $9,900, and creditCommon stock $9,900O c. Credit Cash $10,000 and debit Commonstock $10,000O d. Debit Cash $100 and credit Commonstock $100.

Common stock is a type of security that represents ownership in a corporation. When a corporation…

Answered: Bradley Corporation issued 10,000…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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