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Affordable Garden Imports issued 500,000 shares of $1 par common stock at $5 per share. Which journal entry correctly records the issuance of this stock?
Affordable Garden Imports issued 500,000 shares of $1 par common stock at $5 per share. Which journal entry correctly records the issuance of this stock? 5. Accounts and Explanations Debit Credit 00,000 2,000,000 A. Common Stock Paid-In Capital in Excess of Par Common 2,500,000 Cash Common Stock Paid-In Capital in Excess of Par Common Cash Common Stock B. |Cash 2,500,000 500,000 2,000,000 2,500,000 2,500,000 2,500,000 CCommon Stock D. Cash 2,500,000
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