A company issued 80 shares of $100 par value common stock for $9,000 cash. The journal entry to record the issuance is:

Question

Answer

Debit Cash $9,000; credit Common Stock $9,000.

Answer

Debit Investment in Common Stock $9,000; credit Cash $9,000.

Answer

Debit Cash $9,000; credit Common Stock $8,000; credit Paid-in Capital in Excess of Par Value, Common Stock $1,000.

Answer

Debit Common Stock $8,000, debit Investment in Common Stock $1,000; credit Cash $9,000.

Answer

Debit Cash $9,000; credit Paid-in Capital in Excess of Par Value, Common Stock $8,000, credit Common Stock $1,000.

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