Question: 1 1 . Katy Hooper Inc . issued 6 ,000 shares of no - par common stock with a stated value of $5 per share

1 1 . Katy Hooper Inc . issued 6 ,000 shares of no - par common stock with a stated value of $5 per share . The market price of the stock on the date of issuance was $14 per share . The entry to record this transaction includes a a . credit to Common Stock for $30,000 b . credit to Common Stock for $84 ,000 C . debit to Cash for $30 , 000 d . debit to Paid - in Capital in Excess of Par for $84, 000 e . none of the above are correct

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