Elance Exams Answers PDF file

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Download PDF file of elance Zoho Creator Exam Answers

What are the journal entries for a company issuing 1,000 shares of stock at $8/share issue price and no par value?

Debit cash $8,000; credit paid-in-capital $8,000
A company cannot issue stock without a par value
Debit Retained Earnings $8,000; credit paid-in capital $8,000
Debit cash $8,000; Credit Convertible Debt $8,000
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