A stock subscription for 4000 shares of 5 par common stock

Reference no: EM13589764

A stock subscription for 4,000 shares of $5 par common stock at $10 per share was accepted .Upon receipt of the balance owed on the stock subscription, a stock certificate was issued to the subscriber. The debit part of the journal entry to issue the stock certificate includes for. please show step by step. My answer is common stock: $40,000.

Reference no: EM13589764

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