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Alice's 13th Street restaurant issued 10,000 of $1 par value common stock for $5 per share

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Alice's 13th Street restaurant issued 10,000 of $1 par value common stock for $5 per share. The journal entry to record this transaction would include:

1. a credit of $10,000 to common stock.
2. a credit of $50,000 to common stock.
3. a debit of $10,000 to common stock.

1. a debit of $50,000 to common stock.

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