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Park Corp. issues 2,000 shares of common stock for $20 per share. The par value...

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Accounting

Park Corp. issues 2,000 shares of common stock for $20 per share. The par value of the stock is $1. What is the journal entry for this transaction?

Dr. Cash 40,000; Cr. Common Stock 20,000; Cr. Additional Paid in Capital 20,000

Dr. Cash 40,000; Cr. Common Stock 40,000

Dr. Cash 40,000; Cr. Common Stock 2,000; Cr. Additional Paid in Capital 38,000

Dr. Common Stock 2,000; Cr. Cash 2,000

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