a-company-issues-1000-shares-of-5-par-value-stock-at-5-per-share-what-is-the-cor

Question

A company issues 1,000 shares of $$5 par value stock at 5 $$per share. What is the correct journal entry?

Accepted Answer

Debit Cash $$5,000; Credit Common Stock 5$$,000

Answer

Debit Common Stock $$5,000; Credit Cash 5$$,000

Answer

Debit Cash $$1,000; Credit Common Stock 1$$,000

Answer

Debit Cash $$5,000; Credit Common Stock 1$$,000; Credit APIC $4,000

A company issues 1,000 shares of \$5 par value stock at \$5 per share. What is the correct journal entry?