Centex,Inc.issued 50,000 shares of its $1 par value common stock for $20 per share.The journal entry to record the stock issue would include which of the following?
A)A credit to cash for $1,000,000.
B)A credit to additional paid-in capital for $1,000,000.
C)A credit to additional paid-in capital for $50,000.
D)A credit to common stock for $50,000.

Question

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The Answer of Centex,Inc.issued 50,000 shares of its $1 par value common stock for $20 per share.The journal entry to record the stock issue would include which of the following?
A)A credit to cash for $1,000,000.
B)A credit to additional paid-in capital for $1,000,000.
C)A credit to additional paid-in capital for $50,000.
D)A credit to common stock for $50,000.