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If a corporation issues 1,000 shares of $5 par value common stock for $85,000, the journal entry would include a credit to: O A. Paid - in Capital in Excess of Par-Common for $80,000. OB. Common Stock for $80,000. O c. Common Stock for $85,000. OD. Paid - in Capital in Excess of Par-Common for $85,000. If a corporation issues 4,000 shares of $1 par value common stock for $12,000, the journal entry would include a credit to: O A. Paid - in Capital in Excess of Par-Common for $12,000. OB. Common Stock for $4,000. O C. Retained Earnings for $4,000.. OD. Common Stock for $12,000. Kunze Corporation has $1 par value Common Stock with 100,000 shares authorized and 25,000 shares issued. The journal entry to record Kunze's purchase of 10,000 shares of common stock at $5 per share would be: O A. debit Common Stock for $10,000, debit Paid - in Capital in Excess of Par-Common for 40,000 and credit Cash for $50,000. OB. debit Common Stock for $50,000, and credit Cash for $50,000. O c. debit Treasury Stock for $50,000 and credit Cash for $50,000. O D. debit Cash for $50,000, credit Common Stock for $10,000 and credit Paid - in Capital in Excess of Par-Common for $40,000. On December 31 of the current year, Pilozzi Company has the following information available: Common Stock $5 million Additional Paid - in Capital $4 million Retained Earnings $2 million Cash $2 million Investment in Trading Securities $50,000 On December 31 of the current year, can the Board of Directors declare and pay a cash dividend of $3 million? O A. No, the cash balance is below $3 million. OB. No, Cash and Retained Earnings are both below $3 million O C. Yes, if they can borrow some money, or liquidate some assets. OD. No, Retained Earnings is below $3 million