The correct entry to record the transaction concerning the company's sale of 10,000 shares of previously authorized stock is a debit to Cash of $100,000 and a credit to Common Stock $100,000.
Data Analysis:
Number of shares sold = 10,000
Par value =$10 per share
Cash $100,000 Common Stock $100,000
Thus, the correct entry to record this stock sale is a debit to Cash of $100,000 and a credit to Common Stock $100,000.
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