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Wynola, Inc

Accounting

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Wynola, Inc. issued 1,000 shares of common stock at $10 per share. If the stock has a par value of $4 per share, the journal entry to record the issuance would include a:

1. 1. debit to Retained Earnings for $6,000.
   2. debit to Cash for $4,000.
   3. credit to Paid-in Capital for $10,000.
   4. credit to Common Stock for $4,000.