Chapter 16, Problem 7DQ

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Bonkers Co. issues 10,000 shares of $5 par value common stock for $150,000. The effect of this transaction is a: A. $150,000 increase in Common Stock account. B. $100,000 increase in Gain on Sale of Common Stock. C. $50,000 increase in Contributed Capital in Excess of Par. D. $50,000 increase in Common Stock account.

Compute the anticipated break even sales and sales required?

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