When no$-$par stock is issued:

Select one:

a$.$ the entire amount received is credited to the Paid$-$in capital in excess of par account

b$.$ there is no legal capital created because there is no par or stated value

c$.$ the transaction usually involves only an exchange for noncash assets or services, since the stock have no value assigned

d$.$ the entire amount is credited to the Common stock account

e$.$ there is a credit to a liability account for the difference between the price paid by the stockholders and the fair value of the stock