Apple Inc. issued 4 million shares of nopar common stock for $4 million. What journal entry isprepared?

A.

debit Cash $4 million and credit Common Stock $4 million

B.

debit Cash $4 million and credit Retained Earnings $4 million

C.

debit Cash $4 million and credit Paidin Capital in Excess of Par $4 million

D.

debit Cash $4 million and credit Paidin Capital in Excess of Stated Value $4 million