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Find the entry to record the transaction includes a debit

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Question 1: A company issues 1 million shares of common stock with a par value of $0.21 for $16.90 a share. The entry to record this transaction includes a debit to Cash for:

  1. $16,900,000 and a credit to Common Stock for $16,900,000.
  2. $210,000 and a credit to Common Stock for $210,000.
  3. $210,000, a debit to Capital Receivable for $16,690,000, a credit to Common Stock for $210,000, and a credit to Additional Paid-in Capital for $16,690,000.
  4. $16,900,000, a credit to Common Stock for $210,000, and a credit to Additional Paid-in Capital for $16,690,000.

Reference no: EM132513385

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