If stock is issued at a price above par value, the transaction that would be recorded is to

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When stock is issued at a price above par value, the excess is recorded in a separate account called "Paid-In Capital in Excess of Par." The journal entry to record the issuance of stock would be to debit Cash (as the company receives cash), credit the Common Stock or Preferred Stock (at par value), and credit the remaining amount to Paid-In Capital in Excess of Par. This reflects the actual amount received for the stock and separates the amount above par value as additional contributed capital.

If Stock Is Issued at a Price Above Par Value