Question: Chase Co . issued 2 , 0 0 0 shares of its $ 5 par common stock to Blaney as compensation for 1 , 0

Chase Co. issued 2,000 shares of its $5 par common stock to Blaney as
compensation for 1,000 hours of legal services performed. On the transaction
date, the stock was trading on a public exchange at $160 per share. By what
amount should the additional paid-in capital account increase?
A. $320,000
B. $310,000
C. $200,000
D. $190,000

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