: Contech Company plans to own and operate a car rental facility. For the first month of operations, the company has the following transactions. Cotnech would record the transaction, if any entry is required, as of the date it occurred: 3. July 1 issue 10,000 shares of common stock in exchange for $50,000 cash. OA) Common Stock B) Cash Cash O D) Cash Common Stock C) Common Stock Cash Common Stock 50,000 10,000 10,000 50,000 50,000 10,000 10,000 50,000

July 1 issue 10,000 shares of common stock in exchange for $50,000 cash