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Cash equivalents: Are short-term, highly liquid investment assets. Are recorded in petty cash. Include accounts receivable. Include long-term investments. Include 5-year certificates of deposit. 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 340 shares to its attorneys in payment of a $5,400 charge for drawing up the articles of incorporation. The entry to. record this transaction would include: A credit to Paid-in Capital in Excess of Par Value, Common Stock for $5,400. A debit to Organization Expensen for $3,400. A dobit to Paid-in Capital in Excess of Par Value, Common Stock for $2.000 A creda to Common Stock for $5,400. A dobit to Organization Expenses for $5,400