Clark Co purchases a machine on January 1, 2021 with a note payable of $200,000 due December 31, 2023. There is no stated interest rate on the note but 8% is the realistic rate. Book value of the note payable on January 1, 2021 is $158.766. Interest expense is recorded each December 31. The interest expenses for 2021 and 2022 are: $16,000 in 2021 and $17.280 in 2022 $16,000 in 2021 and $16,000 in 2022 $12,701 in 2021 and $11.685 in 2022 $12.701 in 2021 and $13,717 in 2022 Icot Co, issued 20.000 shares of its $3 par common stock for $420,000 on October 23. Legal promotional, and accounting costs for the issuance totaled $20.000 Identify the following items included in the journal entry to record the stock issuance. Credit to Cash of $400.000 Credit to Common Stock (par $3) of $60.000 Credit to Paid-in Capital - Excess of Par of $340,000 Debit to Retained Earnings of $420,000