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Mockingjay, Inc. issued 2,000 shares of $14 par common stock in exchange for a truck with a current market value of $45,000.
Mockingjay, Inc. issued 2,000 shares of $14 par common stock in exchange for a truck with a current market value of $45,000. Which of the following is NOT part of the journal entry for this transaction?
a.)Crediting Common Stock for $28,000
b.)Crediting Common Stock for $45,000
c.)Crediting paid-in capital in excess of par-common for $17,000
d.)Debiting equipment for $45,000