On January 1, the Tlaquepaque Company was authorized to issue 100,000 shares of $4 par value common stock and 50,000 shares of $25 preferred stock. If Tlaquepaque Company issued 5,000 shares of common stock for $10 per share on January 10, the entry to record the issuance of the stock would include a credit to common stock of:
A. $ 50,000
B. $125,000
C. $ 30,000
D. $ 20,000
Ans: D. $ 20,000
Business
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