Jackson Corporation issues 1000 shares of $2 par value common stock for $10,000. When common stock is issued, which of the following is the correct journal entry?

	a.	Common stock 10,000 Common stock 2,000 Cash 8,000
	b.	Paid in capital in excess of par 11,000 Cash 10,000 Common stock 1,000
	c.	Cash 10,000 Common stock 2,000 Paid in capital in excess of par 8,000
	d.	Cash 8,000 Common Stock 2, 000 Paid in capital in excess of par 6,000

Jackson Corporation has 100,000 shares authorized, 40,000 shares issued and 2,000 shares in treasury stock. How many shares are issued and outstanding?

	a.	38,000
	b.	138,000
	c.	42,000
	d.	142,000