53. The journal entry to issue 2nd would be: a. Jan 2 Cash 1,000,000 shares of $5 par common stock for $7.00 per share on January 7,000,000 Common Stock Paid-In Capital in Excess of Par-c/s Common Stock 5,000,000 2,000,000 b. Jan 2 Cash 5,000,000 5,000,000 c. Jan 2 Cash 5,000,000 Paid-In Capital in Excess of Par-C/S 2,000,000 7,000,000 Common Stock 1,000,000 d. Jan 2 Cash 1,000.000 Common Stock