Question

The Logan Company issued 140 shares of its $12 par value stock for $14 per share. The entry to record the receipt of cash and issuance of the stock would include a
A. debit to Cash for $1,680 and a credit to Common Stock for $1,680.
B. debit to Cash for $1,960.
C. credit to Common Stock for $1,960.
D. debit to Discount on Common Stock for $280.

Answer 1

@chpatterson

Answer 2

i have no idea, B?