Question

Ms. Jessica Duffy purchased 1 share of $10 par value common stock from Ohio Corporation for $50 per share. Ms. Duffy sold that share to Mike Truesdale for $60 per share. As a result of the sale by Duffy to Truesdale sale, Ohio Corporation would:

A) debit Cash and credit Additional Paid-in Capital for $10.

B) debit Cash and credit Common Stock for $10.

C) debit Common Stock and credit Additional Paid-in Capital for $10.

D) not debit or credit any of its accounts.

Answer

This answer is hidden. It contains 380 characters.