Question: Loiselle Company is authorized to issue 40,000 shares of $2 par ordinaary share. On April 30, 20X6, Loiselle issued 35,000 shares at $12 per

Loiselle Company is authorized to issue 40,000 shares of $2 par ordinaary

Loiselle Company is authorized to issue 40,000 shares of $2 par ordinaary share. On April 30, 20X6, Loiselle issued 35,000 shares at $12 per share. Loiselle's journal entry to record these facts should include a A. credit to ordinary shares for $70,000. B. credit to Paid-in Capital in Excess of Par for $420,000. C. debit to ordinary shares for $420,000 D. both a and c.

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