A corporation issued 340 shares of its $5 par value common stock in payment of a $4,200 charge from its accountant for assistance in filing its charter with the state. The entry to record this transaction will include:

Multiple Choice

• A $4,200 credit to Common Stock.

• A $1,700 debit to Organization Expenses.

• A $2,500 credit to Paid-in Capital in Excess of Par Value, Common Stock.

• A $4,200 debit to Legal Expenses.

• A $4,200 credit to Cash.