Crain Company Issued 2,000 Shares of Its $5 Par Value

Multiple Choice

Crain Company issued 2,000 shares of its $5 par value common stock in payment of its attorney's bill of $30,000. The bill was for services performed in helping the company incorporate. Crain should record this transaction by debiting

A) Legal Expense for $10,000.
B) Legal Expense for $30,000.
C) Organization Expense for $10,000.
D) Organization Expense for $30,000.