accounting

Ralston Company is authorized to issue 10,000 shares of 8%, $100 par value preferred stock and 500,000 shares of no-par common stock with a stated value of $1 per share. If Ralston issues 6,000 shares of common stock to pay its recent attorney's bill of $25,000 for legal services on starting up the company, which of the following would be the journal entry for Ralston to record this transaction? Select one: Organizational Expense 25,000 Common Stock 6,000 Paid-in Capital in Excess of Stated Value - Common 19,000 6,000 Organizational Expense Common Stock 6,000 25,000 Organizational Expense Common Stock 25,000 Organizational Expense 25,000 Common Stock 6,000 19,000 Paid-in Capital in Excess of Par Preferred