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Nebraska Inc. issues 2,200 shares of common stock for $70,400. The stock has a stated value of $20 per share. The journal entry to record the stock issuance would include a credit to Common Stock for Oa. $70,400 Ob. $26,400 Oc. $44,000 Od. $2,200

Nebraska Inc. issues 2,200 shares of common stock for $70,400. The stock has a stated value of $20 per share. The journal entry to record the stock issuance would include a credit to Common Stock for Oa. $70,400 Ob. $26,400 Oc. $44,000 Od. $2,200

FINANCIAL ACCOUNTING
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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Nebraska Inc. issues 2,200 shares of common stock for $70,400. The stock has a stated value of $20 per share. The journal entry to record the stock issuance would include a credit to Common Stock for Oa. $70,400 Ob. $26,400 Oc. $44,000 Od. $2,200
Transcribed Image Text:Nebraska Inc. issues 2,200 shares of common stock for $70,400. The stock has a stated value of $20 per share. The journal entry to record the stock issuance would include a credit to Common Stock for Oa. $70,400 Ob. $26,400 Oc. $44,000 Od. $2,200
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