Alliance Corp. issues 940 shares of $8 par value common stock at $18 per share. When the transaction is recorded, what credit entry or entries are made? Select the correct answer. Common Stock $7,520 and Paid-in Capital in Excess of Stated Value $9,400. Common Stock $16,920. Common Stock $9,400 and Retained Earnings $7,520. Common Stock $7,520 and Paid-in Capital in Excess of Par Value $9,400.