Lucie Corporation Was Formed on January 1 of the Current

Multiple Choice

Lucie Corporation was formed on January 1 of the current year.The corporate charter authorized the company to issue 100,000 common shares.During the first month of operation,the corporation issued 300 shares to its lawyer in payment of a $5,600 bill for preparing the articles of incorporation.The entry to record this transaction would include

A) A debit to Organization Costs for $3,000
B) A debit to Organization Costs for $5,600
C) A credit to Organization Costs for $5,600
D) A debit to Common Shares for $5,600
E) A credit to Common Shares for $3,300