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Alma Corp. issues 1,060 shares of $7 par common stock at $20 per share. When...

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Accounting

Alma Corp. issues 1,060 shares of $7 par common stock at $20 per share. When the transaction is recorded, credits are made to

a.Common Stock, $7,420 and Paid-In Capital in Excess of ParCommon Stock, $13,780.

b.Common Stock, $7,420 and Retained Earnings, $13,780.

c.Common Stock, $13,780 and Paid-In Capital in Excess of Stated Value, $7,420.

d.Common Stock, $21,200.

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