stockholders having unlimited liability direct management by the stockholders stockholders having limited liability choosing a board of directors 16. The ent ry to record selling 150 shares of no-par common stock with a stated value of $30 for $40 would be to debit Common Stock for $6,000; credit Cash for $6,00o debit Cash for $6,000; credit Common Stock for $6,00o debit Cash for $6,000; credit Common Stock for $4,500; credit Paid-in Capital in Excess of Stated Value-Common for $1,500 de bit Cash f Excess of Par Value-Common for $1,500 or $6,000; credit Common Stock for $4,500; credit Paid-In Capital in This error would cause