a. When Wisconsin Corporation was formed on January 1, the corporate charter provided for 109,100 shares of $14 par value common stock. During its first month of operation, the corporation issued 7,990 shares of stock at a price of $27 per share.

The entry to record the above transaction would include a

a.debit to Common Stock for $109,100

b.credit to Paid-In Capital in Excess of ParCommon Stock for $103,870

c.credit to Common Stock for $215,730

d.debit to Cash for $111,860