If Cullumber Company issues 6500 shares of $5 par value common stock for $227500, the account O Paid-in Capital in Excess of Par will be credited for $195000. O Paid-in Capital in Excess of Par will be credited for $32500. O Cash will be debited for $195000. L O Common Stock will be credited for $227500.

If Cullumber Company issues 6500 shares of $5 par value common stock for $227500, the account Paid-in Capital in Excess of Par will be credited for $195000. Paid-in Capital in Excess of Par will be credited for $32500. Cash will be debited for $195000. Common Stock will be credited for $227500