Bentley Corporation received cash from issuing 13,000 shares of common stock at par on January 1, 2024. The stock has a par value of $0.05 per share. Which is the comect journal entry to record this transaction? OA Cash is credited for $13,000 and Common Stock-$0.05 Par Value is debited for $13,000 OB. Cash is debited for $650, and Common Stock-$0.05 Par Value is credited for $650 OC. Cash is debited for $13,000, Common Stock-$0.05 Par Value is credited for $650, and Paid-in Capital in Excess of Par-Common credited for $12,350 OD. Pad-in Capital in Excess of Par-Common is debited for $12.350, and Common Stock-$0.05 Par Value is credited for $12,350

Bentley Corporation received cash from issuing 13,000 shares of common stock at par on January 1, 2024. The stock has a par value of $0.05 per share. Which is the comect journal entry to record this transaction? OA Cash is credited for $13,000 and Common Stock-$0.05 Par Value is debited for $13,000 OB. Cash is debited for $650, and Common Stock-$0.05 Par Value is credited for $650 OC. Cash is debited for $13,000, Common Stock-$0.05 Par Value is credited for $650, and Paid-in Capital in Excess of Par-Common credited for $12,350 OD. Pad-in Capital in Excess of Par-Common is debited for $12.350, and Common Stock-$0.05 Par Value is credited for $12,350

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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