What accounts would I debit and credit if I were sell 5oo shares of stock and transfer it to another stockholder for $5,000 cash?
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What accounts would I debit and credit if I were sell 5oo shares of stock and transfer it to another stockholder for $5,000 cash?
Debt Cash 5000
Credit Common Stock (At Par) xxx
Credit Additional Paid in capital xxx
Need more info what is the par value?
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