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T. Noel Inc. issued/sold shares of its $0.40 par value common stock on May 4,...

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Accounting

T. Noel Inc. issued/sold shares of its $0.40 par value common stock on May 4, 2020 for $6 per share. The journal entry to record this stock issuance transaction included a credit to the Additional paid-in capital account for $336,000 How many shares were issued on May 4, 2020?
  • A. Cannot be determined
  • B. 840,000 shares
  • C. 56,000 shares
  • D. 60,000 shares

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