If Lantz Company Issues 10,000 Shares of $5 Par Value

Multiple Choice

If Lantz Company issues 10,000 shares of $5 par value common stock for $210,000, the account

A) Common Stock will be credited for $50,000.
B) Paid-in Capital in Excess of Par Value will be credited for $50,000.
C) Paid-in Capital in Excess of Par Value will be credited for $210,000.
D) Cash will be debited for $160,000.