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Paltrowski Company issued 1 million shares of nopar common stock with a stated value of $2 . The issue price was $50 per share. Which
Paltrowski Company issued 1 million shares of nopar common stock with a stated value of $2. The issue price was $50 per share. Which journal entry isprepared?
A.
debit Cash $50 million, credit Common Stock $2 million and credit Paidin Capital in Excess of ParCommon $48 million
B.
debit Cash $50 million, credit Common Stock $2 million and credit Paidin Capital in Excess of Stated ValueCommon $48 million
C.
debit Cash $50 million and credit Common Stock $50 million
D.
debit Cash $50 million and credit Retained Earnings $50 million
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