ACME Company issued 10,000 shares of no-par common stock for $1,100,000. Which of the following journal entries would be made if the stock has a stated value of $20 per share?

Group of answer choices

Dr. Common Stock 1,100,000 Cr. Cash 1,100,000

Dr. Cash 1,100,000 Cr. Common Stock 1,100,000

Dr. Cash 1,100,000 Cr. Common Stock 200,000 Cr. Paid-in Capital in Excess of Par 900,000

Dr. Cash 1,100,000 Cr. Common Stock 200,000 Cr. Paid-in Capital in Excess of Stated Value 900,000