The dollar amount assigned to each share of stock, as approved by the state in which the company is incorporated, is known as the: authorized value market value par value stated value Question 28 2 pts Moody Inc. issues 7,000 shares of $100 par value preferred stock for cash at $120 per share. The entry to record the transaction will consist of a debit to Cash for $840,000 and a credit or credits to O Preferred Stock for $700,000 and Retained Earnings for $140,000 Additional Paid-in Capital from Preferred Stock for $840,000 Preferred Stock for $840,000, Preferred Stock for $700,000 and Additional Paid-in Capital in Excess of Par-Preferred Stock for $140.000