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Ayayai Corp. issued 700 shares of no par common stock for $3500. Which of the following journal entries would be made if the stock has

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Ayayai Corp. issued 700 shares of no par common stock for $3500. Which of the following journal entries would be made if the stock has stated value of $2 per share? 3500 Common Stock 1400 Paid-in Capital in Excess of Par 2100 Cash 3500 Common Stock 3500 Cash 3500 Common Stock 1400 2100 Paid-in Capital in Excess of Stated Value Common Stock 3500 3500 Cash

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