Jade Jewelers issued 15,000 shares of $1 par value stock for $20 per share. What is true about the journal entry to record the issuance?
A) Credit Common Stock $300,000.
B) Credit Cash $300,000.
C) Credit Common Stock $15,000.
D) Debit Additional Paid-In Capital $285,000.
Answer: C
If the answers is incorrect or not given, you can answer the above question in the comment box. If the answers is incorrect or not given, you can answer the above question in the comment box.