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Question(s) / Instruction(s):

A company issues 7,000 shares of its $10 par value common stock in exchange for equipment valued at $105,000.  The entry to record this transaction includes a credit to

a)            Common Stock, $10 Par Value for $105,000.

b)            Retained Earnings for $35,000.

c)            Paid-In Capital in Excess of Par Value, Common Stock for $35,000.

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