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Percy Corporation was formed on January 1 The corporate charter authorized 100.000 shares of $10 par value common stock. During the first month of operation,

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Percy Corporation was formed on January 1 The corporate charter authorized 100.000 shares of $10 par value common stock. During the first month of operation, the corporation issued 200 shares to its attomeys in payment of a $4,000 charge for drawing up the articles of incorporation. The entry to record this transaction would include: Multiple Choice A debit to Organization Expenses for $4,000. A debit to Organization Expenses for $2.000 A credit to Common Stock for $4,000, A credit to Paid-in Capital in Excess of Par Value, Common Stock for $4,000 A debit to Pald-In Capital in Excess of Par Value, Common Stock for $2,000

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