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Zygo Sold 1,000 Common Shares (Par $3)at $5 Per Share

Question 178

Multiple Choice

Zygo sold 1,000 common shares (par $3) at $5 per share on a subscription basis.The entry to record this transaction included a credit to:

A) Cash.
B) Subscriptions receivable.
C) Contributed capital in excess of par.
D) Accounts receivable.

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