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CherokeeCloud, Inc., issued for $38 per share 5,000 shares of $20 par value common stock. The journal entry to record this transaction is: Select one:
CherokeeCloud, Inc., issued for $38 per share 5,000 shares of $20 par value common stock. The journal entry to record this transaction is:
Select one:
A.
| Cash | 190,000 |
|
|
| Common Stock |
| 190,000 |
B.
| Cash | 190,000 |
|
|
| Common Stock |
| 100,000 |
|
| Paid-in Capital in Excess of Par Value |
| 90,000 |
C.
| Cash | 190,000 |
|
|
| Common Stock |
| 100,000 |
|
| Retained Earnings |
| 90,000 |
D.
| Cash | 190,000 |
|
|
| Common Stock |
| 100,000 |
|
| Gain on Sale of Stock |
| 90,000 |
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