A Corporation Issued 300 Shares of Its $5 Par Value

Multiple Choice

A corporation issued 300 shares of its $5 par value common stock in payment of a $1,800 charge from its accountant for assistance in filing its charter with the state.The entry to record this transaction will include:

A) A $1,800 credit to Common Stock.
B) A $1,500 debit to Organization Expenses.
C) A $300 credit to Contributed Capital in Excess of Par Value,Common Stock.
D) A $1,800 debit to Legal Expenses.
E) A $1,800 credit to Cash.