# The entry to record the above transaction would include a a. debit to Cash for $85,000 b. credit to Common Stock for$136,000 c. credit to Paid-In Capital in Excess of Par—Common Stock for $51,000 d. debit to Common Stock for$85,000

Question

When Wisconsin Corporation was formed on January 1, the corporate charter provided for 100,000 shares of $10 par value common stock. During its first month of operation, the corporation issued 8,500 shares of stock at a price of$16 per share.

The entry to record the above transaction would include a a. debit to Cash for $85,000 b. credit to Common Stock for$136,000 c. credit to Paid-In Capital in Excess of Par—Common Stock for $51,000 d. debit to Common Stock for$85,000