A company issued 50 shares of $100 par value common stock for $7,400 cash. The journal entry to record the issuance is: Multiple Choice Debit Cash \$7,400; credit Common Stock $7,400. Debit Cash \$7,400; credit Common Stock \$5,000; credit Paid-in Capital in Excess of Par Value, Common Stock $2,400. Debit Common Stock $5,000, debit Investment in Common Stock $2,400; credit Cash $7,400. Debit investment in Common Stock $7,400; credit Cash $7,400. Debit Cash \$7,400; credit Paid-in Capital in Excess of Par Value, Common Stock \$5,000, credit Common Stock \$2,400