Business, 23.08.2019 01:10 jae222

Bentley corporation received cash from issuing 12 comma 000 shares of common stock at par on january 1, 2018. the stock has a par value of $ 0.01 per share. which is the correct journal entry to record this transaction?
a) cash is credited for $16,000 and common stock - $0.01 par value is debited for $16,000
b) cash is debited for $160, and common stock - $0.01 par value is credited for $160
c) paid-in capital in excess of par - common is debited for $15,840, and common stock-$0.01 par value is credited for $15,840
d) cash is debited for $16,000 common stock - $0.01 par value is credited for $160 and paid- in capital in excess of par - common credited for $15,840

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