1)If SNA Company issues 4,000 shares of $5 par value common stock for $50,000, the journal record will include: * a.Common Stock will be credited for $50,000. b.Paid-In Capital in Excess of Par will be credited for $30,000. c.Paid-In Capital in Excess of Par will be credited for $50,000. d.Cash will be debited for $20,000. f.None of the above 2) On June 1, 2020, ALFA Company issued 700 shares of 5%, $50 stated value preferred stock to attorneys who helped the company organize. The attorneys valued their service at $50,000. The entry is: * a.Debit Cash $50,000, Credit Preferred Stock $700, Credit Paid in Capital in excess of par- CS $49,300 b.Debit Preferred Stock $25,000, Credit Paid in Capital in excess of par-PS $15,000, Debit Organizational Expense $50,000. c.Debit Organizational Expense $50,000, Credit Common Stock $35,000, Credit Paid in Capital in excess of par-CS $15,000. d.Debit Organizational Expense $50,000, Credit Preferred Stock $35,000, Credit Paid in Capital in excess of par-PS $15,000. f.None of the above.