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Ace Corporation is authorized to issue 1.000 shares of preferred stock with a 9% dividend rate and a par value of $20 per share and 50,000 shares of common stock with a par value of $2 per share. On January 2, 2019. Spectator issues 200 shares of preferred stock at $22 per share and 20,000 shares of common stock at $2.50 per share. The journal entry to record the issuance of the common stock would include A debit to Cash for $40,000and a credit to Common Stock for $40,000 A debit to Cash for $50.000, a credit to Common Stock for $40,000, and a credit to Additional Paid-in Capital Common Stock for $10.000 A debit to Cash for $50,000 and a credit to Common Stock for $50.000 A debit to Cash for $50.000, a credit to Common Stock for $10,000 anda credit to Additional Paid-in Capital Common Stock for $40.000