QUESTION 18 18. Maxim Holding Co., Inc. was authorized to issue 200,000 of its $3 par value commission. Maxim Holding Co., Inc. had the following transactions during the month of March 2020: 3/4/20 - Sold 25,000 shares of common stock at $5 each. 3/10/20 - Repurchase 5,000 of its own shares at $8 per share. 3/15/20 - Sold 2,000 of the share purchased on 3/10/20 at $10 per share. 3/20/20 - Sold 2,000 of the shares purchased on 3/10/20 at $5 per share 3/23/20 - Declared a $2 per share cash dividends on all outstanding shares of common stock. 3/31/20 - Paid the dividends declared on 3/23/20. Which of the following is true for transaction 3/4/20? . Cash is debited for $125,000 and APIC CS credit for $50,000. Cash is credited for $125,000 and common stock debited for $125,000 Cash debited for $125,000 and common stock credited for $125,000 Debit common stock for $75,000, debit APIC, CS for $50,000 and credit cash for $125,000