Question 2
Our company is authorized to issue 100,000 shares of no par value common stock. On
August 21 we issued 20,000 shares for $11 per share. What account(s) and amount(s)
would we credit when we record the journal entry for this transaction?
O cash, $220,000
O common stock, $220,000
O common stock, $1,100,000
4 pts
O cash, $1,100,000