GEW HI Ext Assignment X 9 of 35 Concepts completed Multiple Choice Question Payton, Inc.'s charter authorized 100,000 shares of stock with a par value of $1 per share. Payton issues 100 shares at a market value of $5 per share. The journal entry to record this transaction will include a credit to in the amount of Cash: $500 O Common Stock $1 par $500 O Common Stock $1 par: $100 Poid in Capital, in Excess of Par: $500 Need help? Review these concept resources Read About the Concept Rate your confidence to submit your answer Reading