Elance Exams Answers PDF file

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Download PDF file of elance Zoho Creator Exam Answers
elance-zoho-creator-exam.pdf

If a share of common stock with a par value of $.01 is issued for $5 the journal entry to record the transaction would be:

Debit Cash $5 Credit Common Stock $.01 Credit Additional-paid-in-capital $4.99
Debit Cash $5 Credit Common Stock $5
Debit Cash $5 Credit Common Stock $4.99 Credit Additional-paid-in-capital $.01
Debit Cash $5 Credit Additional-paid-in-capital $5
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