If Fleetwood Company issues 1,000 shares of $5 par value stock for a total of $70,000, the account: A. Additional paid-in capital in excess of par value will be credited for $65,000 B. Additional paid-in capital in excess of par value will be credited for $5,000 C. Common stock will be credited for $70,000 D. Cash will be debited for $65,000

• A. Additional paid-in capital in excess of par value will be credited for $65,000
• B. Additional paid-in capital in excess of par value will be credited for $5,000
• C. Common stock will be credited for $70,000
• D. Cash will be debited for $65,000