Question

When a company issue 27,000 shares of $5 per value common stock,the journal entry for this issuance would include:

Multiply choice
1. A debit to cash for $135,000
2.A debit to additional paid-in capital for$135,000
3.A credit to additional pain-in for$1,215,000
4.A credit to common stock for $1,350.000

Answer 1

1. A debit to cash for $135,000

Step-by-step explanation:

The complete entries are

1. A debit to cash for $135,000

2. A credit to common stock account for $135,000