A Company Sells 1 Million Shares of Common Stock with a Par

Multiple Choice

A company sells 1 million shares of common stock with a par value of $0.02 for $15 a share.To record the transaction,the company would:

A) debit Cash for $20,000 and credit Common Stock for $20,000.
B) debit Cash for $15 million and credit Common Stock for $15 million.
C) debit Cash for $15 million,credit Common Stock for $20,000 and credit Additional Paid-in Capital for $14,980,000.
D) debit Cash for $20,000,debit Capital Receivable for $14,980,000,credit Common Stock for $20,000 and credit Additional Paid-in Capital for $14,980,000.