Sunshine Company issued 4000 shares of its $5 par value common stock in payment of its attorney's bill of $80000. The bill was for services performed in helping the company incorporate. Crain should record this transaction by debiting

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When a company incurs expenses related to organizing, such as legal fees for incorporating, those expenses are classified as organization expenses. Therefore, the transaction should be recorded by debiting Organization Expense for $80,000.

Sunshine Company Issued 4000 Shares of Its $5 Par Value