Paltrowski Company issued 1 million shares of no-par common stock with a stated value of $9. The issue price was $40 per share. Which journal entry is prepared? debit Cash $40 million and credit Retained Earnings $40 million O debit Cash $40 million, credit Common Stock $9 million and credit Paid-in Capital in Excess of Par-Common $31 million O debit Cash $40 million, credit Common Stock $9 million and credit Paid-in Capital in Excess of Stated Value- Common $31 million debit Cash $40 million and credit Common Stock $40 million