Strength Inc

Multiple Choice

Strength Inc.sold 10,000 shares of $1 par value stock for $25 per share.How would the company record this transaction?

A) Debit Cash for $250,000 and credit Common Stock,$1 Par Value for $250,000.
B) Debit Cash for $240,000 and credit Common Stock,$1 Par Value for $240,000.
C) Debit Cash for $250,000,credit Common Stock,$1 Par Value for $10,000,and credit Paid-In Capital,Common Stock for $240,000.
D) Debit Cash for $240,000,credit Common Stock,$1 Par Value for $10,000,and credit Paid-In Capital,Common Stock for $230,000.
E) Debit Cash for $240,000,debit credit Paid-In Capital,Common Stock for $10,000,and credit Common Stock,$1 Par Value for $250,000.