A company projects the following: Sales for the year: 78,000 machines Estimated January 1 inventory: 6,500 units Desired December 31 inventory: 6,000 units. What is the budgeted production (in units) for the year? o 70,500 o 70,000 0 78,500 o 77,500 A company has a stock offering. They issue stock, in exchange for land, as follows: 2,000 shares of $5 par common stock at $7 per share. When the transaction is recorded, credit(s) are made to o Common Stock, $10,000, and Paid-In Capital in Excess of Par, $4,000 Common Stock, $4,000, and Paid-In Capital in Excess of Stated Value, $10,000 o Common Stock, $14,000 o Common Stock, $10,000, and Retained Earnings, $4,000