Pumpkin Corporation issued 10,000 shares of common stock on January 1, 2018. The stock has no par value and was issued at $17 per share. The journal entry for this transaction includes a ________.
A) debit to Cash for $170,000 and a credit to Common Stock—No-Par Value for $170,000
B) debit to Cash for $170,000 and a credit to Paid-In Capital in Excess of Par—Common for $170,000
C) credit to Cash for $170,000 and a debit to Common Stock—No-Par Value for $170,000
D) credit to Cash for $170,000, a debit to Paid-In Capital in Excess of Par—Common for $10,000, and a debit to Common Stock—No-Par Value for $160,000
A) debit to Cash for $170,000 and a credit to Common Stock—No-Par Value for $170,000
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