Olsson Corporation received a check from its underwriters for $89 million. This was for the issue of one million of its $5 par stock that the underwriters expect to sell for $89 per share. Which is the correct entry to record the issue of the stock? Multiple Choice Cash Deferred stock issue revenue Common stock Paid-in capital-excess of par Cash Common stock Cash Stock issue expense Stock contract receivable Cash Common stock Paid-in capital-excess of par 89,000,000 31,000,000 5,000,000 53,000,000 89,000,000 89,000,000 89,000,000 31,000,000 58,000,000 89,000,000 5,000,000 84,000,000