Test 3 8 Olsson Corporation received a check from its underwriters for $86 million. This was for the issue of one million of its 55 par stock that the underwriters expect to sell for $85 per share Which is the correct entry to record the issue of the stock? Multiple Choice 36,000,000 | Cash Common stock 86,000,000 O 86,000,000 Cash Stock Issue expense Stock contract receivable 34.000.000 52.000,eee 86.000.000 Cash Deferred stock Issue revenue Connon stock Paid in capital-excess of par 34,000,000 5.000.000 47,000,000 86,800,000 Cash Common stock 86, eee, eee 86,000, eee Cash Stock issue expense Stock contract receivable 34 , , 52,000,000 86,000,000 Cash Deferred stock issue revenue Common stock Paid-in capital-excess of par 34,000,000 5,000,000 47,000,000 86 , , Cash Common stock Paid-in capital-excess of par 5,000,000 81,000,000