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B51. Ortiz Company issued 4,000 shares of $5 par value common stock in payment of its attorney's bill of $35,000. The Company is not
B51. Ortiz Company issued 4,000 shares of $5 par value common stock in payment of its attorney's bill of $35,000. The Company is not publicly traded. The attorney bill was for services performed in helping the company incorporate. The Company should record this transaction by debiting a. Organization Expense for $20,000 b. Organization Expense for $35,000 c. Common Stock for $20,000 d. Common Stock for $35,000 e. Additional Paid in Capital for $20,000 f. Additional Paid in Capital for $35,000
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