Retro Company is authorized to issue 10,000 shares of 8%, $100 par value preferred stock and 500,000 shares of no-par common stock with a stated value of $1 per share. If Retro issues 10,000 shares of common stock to pay its recent attorney's bill of $50,000 for legal services on a land access dispute, which of the following would be the best journal entry for Retro to record? 
Definitions:
Initial Cost
Typically refers to the acquisition price of an asset or investment, including all expenses incurred to bring it to its intended use.
Investment
The action of dedicating financial resources in expectation of gaining profits or income.
Discounted Payback Period
The time it takes to recoup an investment considering the time value of money, by discounting future cash flows to present value.
Market Value
The immediate cost at which services or assets are exchangeable in a free trading market.
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