Determine journal entries would be made if stock stated

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Question 1: Crane Company issued 650 shares of no-par common stock for $6000. Which of the following journal entries would be made if the stock has a stated value of $2 per share?

Option 1: Cash 6000 Common Stock 6000

Option 2: Common Stock6000 Cash 6000

Option 3: Cash 6000 Common Stock 1300 Paid-in Capital in Excess of Par 4700

Option 4: Cash6000 Common Stock 1300 Paid-in Capital in Excess of Stated Value 4700

Reference no: EM132472545

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