Credit Common Stock $23,520 (3920 * $6)
Credit Additional Paid in Capital $19,600 (43,120 - $23,520)
On May 10, Paige Corporation issues 3,920 shares of $6 par value common stock for cash at $11 per share.
Journalize the issuance of the stock. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
I know the account titles are.
Cash
Common Stock
Paid-in Capital in Excess of Par Value-Common Stock.
Cash I debit what?
Common Stock I credit what?
Paid-in Capital in Excess of Par Value-Common Stock I credit what also?
