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Los Altos, Inc., is authorized to issue 1,600,000 shares of $1 par value common stock. The company actually sells 800,000 shares at $5 per share.

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Los Altos, Inc., is authorized to issue 1,600,000 shares of $1 par value common stock. The company actually sells 800,000 shares at $5 per share. What are the amounts recorded as Common Stock-$1 par value and Paid-in Capital in Excess of Par Value related to the issuance of the 800,000 shares? 1 x Common stock Paid-in Capital in Excess of Par Value $ 0X

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