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The Vernon Corporation was formed on January 2, 20xi. The compary sold 20.000 shares of $8,00 par value stock fer 520.00 per share, On Juy

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The Vernon Corporation was formed on January 2, 20xi. The compary sold 20.000 shares of $8,00 par value stock fer 520.00 per share, On Juy 1 . 201, Vernon bought back 4,000 shares of stock for $24.00 per share. The treasury stock was resold on September 1, 201 for 532.00 per share Which one of the following is the entry to record the ariginal sale of the stock? Muttipie choice DA Comman stock 160.000 DR Paid in capital in excess of par 240,000CR Cash 400.000 DR Common stock 240,000 DA Paidin capital in excess of par 160,000 CR Cash 400,000 DR Cash 400,000CR Cammon stack. 240,000 CR Paidint capital in excess of pa 160,000 OR Cash 400,000CR Comimon stock 460,000CA Paid in capital in excess of par 240,000

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