Percy Corporation was formed... 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 330 shares to its attorneys in payment of a $5,300 charge for drawing up the articles of incorporation. The entry to record this transaction would includes Multiple Choice Acredit to Common Stock for $5300 A code to Pidin Caprice of Pw won. Common Sector 55.300 A debit te Puis in Capital in Excent of Purwun. Common Stock for $2.000 A debit to Organisation Expenses for $5.300 Abito Organization Expenses for $3.300