Redwing Corporation Issued 500 Shares of $1 Par Value Common

Redwing Corporation issued 500 shares of $1 par value common stock for $22 per share. Because of this transaction, Redwing's

A) cash account balance will increase by $500.
B) common stock account balance will increase by $11,000.
C) additional paid-in capital account balance will increase by $10,500.
D) common stock account should be debited for $500.
E) cash account should be credited for $11,000.Use the following information to answer questions 20 - 21:Grambling Corporation issued 500 shares of common stock for $22 per share.