If a company issues 2,500 shares of common stock at a market price of $48 per share, which of the following is the correct balance sheet effect? A. Increase cash by $120,000 and increase contributed capital by $120,000 B. Increase cash by $120,000 and increase earned capital by $120,000 C. Increase stock revenues by $120,000 D. Stock issuances are not reported on the balance sheet E. None of the above
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