ChaneyCorporation issued 20,000 shares of common stock on Ja

ChaneyCorporation issued 20,000 shares of common stock on January 1, 2014. The stock has par value of $1.00 per share and was sold at $30 pershare.  The journal entry for this transaction would: a.credit Cash $600,000, debit Common stock $20,000, and debit Paid-in capital $580,000.b. debit Cash $600,000 and credit Paid-in capital $600,000. c.debit Cash $600,000, credit Common stock $20,000, and credit Paid-in capital $580,000.d.debit Cash $600,000 and credit Common stock $600,000.questions don’t know.docx

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