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If Larger Company issues 1,600 shares of $5 par value common stock for $24,000, determine the result of the transaction on the accounts. Select the

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If Larger Company issues 1,600 shares of $5 par value common stock for $24,000, determine the result of the transaction on the accounts. Select the correct answer. Pald-in Capital in excess of Par Value will be credited for $16,000. Common Stock will be credited for $24,000. Cash will be debited for $8,000. Paid-in Capital in excess of Par Value will be credited for $8,000

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