Miller Corporation issued 6000 shares of its $5 par value common stock in payment for attorney services billed at $54,000.Miller Corporation's stock has been actively trading at $9 per share.The journal entry for this transaction would include a credit to:
A) Paid-in Capital in Excess of Par-Common for $54,000.
B) Paid-in Capital in Excess of Par-Common for $24,000.
C) Legal Expense for $54,000.
D) Common Stock for $54,000.
Correct Answer:
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