A Corporation Issued 2,500 Shares of Its No Par Common

Multiple Choice

A corporation issued 2,500 shares of its no par common stock at a cash price of $11 per share.The entry to record this transaction would be:

A) Debit Cash $27,500;credit Paid-in Capital in Excess of Par Value,Common Stock $2,500;credit Common Stock $25,000.
B) Debit Cash $27,500;credit Common Stock $27,500.
C) Debit Common Stock $27,500;credit Cash $27,500.
D) Debit Treasury Stock $27,500;credit Cash $27,500.
E) Debit Treasury Stock $2,500;debit Paid-in Capital in Excess of Par Value,Treasury Stock $25,000;credit Common Stock $27,500.