On May 17, 2021, P Company acquired 50% of the outstanding common stock of S Company. It paid $200,000 cash and issued 6,000 shares of its $2 par value common stock. Those shares had a market value of $10 on the acquisition date.

The complete entry prepared by P Company to record the acquisition of S Companys stock involved: *

A Debit of one asset account and a Credit of two equity accounts

A Debit of one asset account, a Credit of one asset account, and a Credit of two equity accounts

A Debit of two asset accounts and a Credit of two equity accounts

A Debit of two asset accounts, a Credit of one asset account, and a Credit of two equity accounts