Desert Towers Inc. issued 3,000 shares of $6 par value common stock for $7 per share. Which of the following is included in the journal entry to record the issuance?
a. Debit to Cash for $15,000
b. Credit to Common Stock for $15,000
c. Credit to Common Stock for $18,000
d. Debit to Paid-in Capital in Excess of Par Value for $3,000
Ans: c. Credit to Common Stock for $18,000
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