Business, 25.12.2019 06:31 zaiinab

Percy corporation was formed on january 1. the corporate charter authorized 100,000 shares of $10 par value common stock. during the first month of operation, the corporation issued 280 shares to its attorneys in payment of a $4,800 charge for drawing up the articles of incorporation. the entry to record this transaction would include: ) a debit to organization expenses for $4,800.b) a debit to organization expenses for $2,800.c) a credit to common stock for $4,800.d) a credit to paid-in capital in excess of par value, common stock for $4,800.e) a debit to paid-in capital in excess of par value, common stock for $2,000.

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Percy corporation was formed on january 1. the corporate charter authorized 100,000 shares of $10 pa...