Liabilities are best defined as: The amounts that owners have invested in the business. . Amounts the company expects to collect in the future from custo Payments to stockholders. Debts or obligation the company owes resulting from past transa On January 1, 2021, the a new corporation was formed to promote peace and civility. The company was named Trupenbisys Inc. They had 1,000,000 shares of authorized common stock and issued 10,000 shares of common stock. The stock carried a par value of $1 per share and sold for $9.00 per share. Which of the journal entries below correctly reflects the issuance of the stock on Trupenbisys's books? $90,000 Common Stock Cash $90.000 $90,000 Cash Common Stock $90.000 Cash $90,000 Common Stock Excess Paid-In Capital $10,000 $80,000 Common Stock $10,000 Excess Paid-In Capital $80.000 Cash $90,000 Identify the two primary purposes of a system of internal control. AJ A/