subj All of the above are Question 23: Adams Corporation received cash from issuing 21 shares of common stock at par on January 1, 2018. The stock has a par value of $2 per share. Which is the correct journal entry to record this transaction? a) Cash Common Stock - $2 Par Value 42 42 b) Common Stock - $2 Par Vale 42 42 Cash Cash 21 Common Stock - $2 Par Value 21 d) Common Stock - $2 Par Vale Cash e) All of the above are not correct. 21 21 4B Question 24: Allridge Corporation received cash from issuing 26,000 shares of common stock at $3 per share on January 1, 2018. The stock has a par value of $1 per share. Which is the correct journal entry to record this transaction? a) Cash 78,000 Common Stock - $1 Par Paid-in Capital in Excess of Par - Common Value 26,000 52,000 b) Cash 78,000 Common Stock - $1 Par Value 52. Paid-in Capital in Excess of Par - Common 2 c) Common Stock - $1 Par Value 26,000 Paid-in Capital in Excess of Par- Common 52,000 Cash