The Entry to Record the Issuance of 2,000 Shares of $10

question 29

Multiple Choice

The entry to record the issuance of 2,000 shares of $10 par-value common stock for $14 a share consists of a debit to Cash for $28,000 and a credit to Common Stock for

• A) $28,000.
• B) $20,000 and a credit to Gain on Sale of Common Stock for $8,000.
• C) $20,000 and a credit to Treasury Stock for $8,000.
• D) $20,000 and a credit to Paid-in Capital in Excess of Par Value-Common Stock for $8,000.