The Burnham Corp

Multiple Choice

The Burnham Corp.issues 2,000 shares of no-par stock for $10 cash per share.How would the company record this transaction?

A) Debit Cash for $20,000 and credit Paid-In Capital,Common Stock for $20,000.
B) Debit Cash for $20,000 and credit Common Stock,No-Par Value for $20,000.
C) Debit Cash for $20,000 and credit Paid-In Capital for $20,000.
D) Debit Cash for $20,000 and credit Paid-In Capital in Excess of Par Value,Common Stock for $20,000.
E) Debit Common Stock,No-Par Value for $20,000 and credit Cash for $20,000.