A corporation issued 110 shares of its $5 par value common stock in payment of a $1900 charge from its accountant for assistance in filing its charter with the state. The entry to record this transaction will include:
A. A $1900 debit to Legal Expenses.
B. A $1350 credit to Paid-in Capital in Excess of Par Value, Common Stock.
C. A $550 debit to Organization Expenses.
D. A $1900 credit to Cash.
E. A $1900 credit to Common Stock.
Answer: B
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