National Spirit Inc. issues 270,000 common shares for $5 per share. The journal entry is

National Spirit lnc issues 270,000 common shares for S5 per share. The journal entry is: Accounts Cash Common Shares Accounts Cash Common Shares Gain on the Sale of Shares Accounts Cash Common Shares Accounts Cash Common Shares Contributed Surplus on Common Shares 270,000 Debit Credit Credit 270,000 Credit 270,000 Credit 540,000 810,000