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Vaughn Manufacturing is authorized to issue 11000 shares of 796, $100 par value preferred stock and 450000 shares of no-par common stock with a stated

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Vaughn Manufacturing is authorized to issue 11000 shares of 796, $100 par value preferred stock and 450000 shares of no-par common stock with a stated value of $1 per share. If Vaughn issues 11000 shares of common stock to pay ts recent attorney's bill of $56000 for legal services on a land access dispute, which of the following would be the best journal entry for Vaughn to record? D Legal Expense 56000 Common Stock 56000 O Legal Expense 56000 Common Stock 11000 Paid-in Capital in Excess of Par value Common 45000 O Legal Expense 56000 Common Stock 11000 Paid-in Capital in Excess of Stated Value - Common 45000 (1) Legal Expense 11000 Common Stock

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