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The 12/31/2021 balance sheet of Despot Inc. included the following: Common stock, 25 million shares at $20 par Paid-in capital-excess of par Retained earnings $

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The 12/31/2021 balance sheet of Despot Inc. included the following: Common stock, 25 million shares at $20 par Paid-in capital-excess of par Retained earnings $ 500 million 3,000 million 980 million 1:11:15 In January 2021, Despot recorded a transaction with this journal entry: 150 million Cash Common stock Paid-in capital-excess of par 100 million 50 million The transaction was for the Multiple Choice Receipt of $20 per share for a new stock issue. Issue of common stock for $150 million in cash. Issue of 2 million shares of common stock at par All of these answer choices are correct

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