The journal entry to issue 1,000,000 shares of $6 par common stock for $8.00 per share on January 2nd would be: Jan 2 Cash 8,000,000 a. Common Stock 6,000,000 Paid-In Capital in Excess of Par-C/S 2,000,000 Jan 2 Cash 1,000,000 Common Stock 1,000,000 c. Jan 2 Cash 6,000,000 Common Stock 6,000,000 Jan 2 Cash 6,000,000 Od Paid-in Capital in Excess of Par-C/S 2,000,000 Common Stock 8,000,000 Ob