Lady Gaga Corporation was incorporated with 100,000 shares of $1 par value common stock authorized by the Board of Directors. The journal entry to record the issue of 10,000 shares for $300,000 is: None of the other answers are correct Debit Cash, Credit Common Stock and Paid in Capital In Excess of Par Debit Common Stock and Paid in Capital In Excess of Par, Credit Cash Debit Cash, Credit Common Stock