The entry to record the issuance of 2,900 shares of $3 stated-value common stock for $12 a share consists of a debit to Cash for $34,800 and a Multiple Choice a credit to Common Stock for $8,700 and a credit to Gain On Sale of Common Stock for $26,100. a credit to Common Stock for $34,800. a credit to Common Stock for $8,700 and a credit to Paid-in Capital in Excess of Stated Value-Common Stock for $26,100. a credit to Common Stock for $8,700 and a credit to Paid-in Capital in Excess of Par Value-Common Stock for $26,100.

The entry to record the issuance of 2,900 shares of $3 stated-value common stock for $12 a share consists of a debit to Cash for $34,800 and a Multiple Choico a credit to Common Stock for $8,700 and a credt to Gain On Sale of Common Stock for $26,100 a credit to Common Stock for $34,800 a credit to Common Stock for \$8,700 and a credit to Paid in Capitai in Excess of Stated Value-Common Stock for $26,100. a credit to Common Stock for $8.700 and a credit to Paid in Cepitat in Excess of Par Value-Common 5 tock for $26, 90