The entry to record MidIowa.net selling 800 shares of $6.00 par value common stock at $8.00 would be to:
A) debit Cash $6,400; credit Common Stock $4,800; credit Paid-in Capital in Excess of Par Value-Common $1,600.
B) debit Cash $4,800; credit Common Stock $4,800.
C) debit Cash $6,400; debit Paid-in Capital in Excess of Par Value-Common $1,600; credit Common Stock $8,000.
D) None of these answers are correct.
Correct Answer:
Verified
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