The journal entry to issue 1,000,000 shares of $5 par common stock for $9 per share on July 2 would be

a.

July 2

Cash9,000,000

Common Stock9,000,000

b.

July 2

Cash5,000,000

Common Stock5,000,000

c.

July 2

Cash5,000,000

Paid-In Capital in Excess of ParCommon Stock4,000,000

Common Stock9,000,000

d.

July 2

Cash9,000,000

Common Stock5,000,000

Paid-In Capital in Excess of ParCommon Stock4,000,000