UCK Q10-59. Spirit World, Inc., issued 250,000 shares of no-par common stock fors The journal entry to record the issuance would be: ock for $5 per share. TQ10 trei be A1 A 1 1,250,000 a. Cash Common Stock Gain on the sale of Stock b. Cash Common Stock 250.000 10000 vonawN 250,000 250.000 8 C 1,250,000 1,250,000 11 d. Cash Common Stock Cash Common Stock Paid-in Capital in Excess of Par 1,250,000 500.000 750.000