Business, 23.11.2019 04:31 Schoolworkspace453
Miller corporation issued 7000 shares of its $5 par value common stock in payment for attorney services billed at $70,000. miller corporation's stock has been actively trading at $10 per share. the journal entry for this transaction would include a credit to: select one:
a. common stock for $70,000
b. paid-in capital in excess of par-common for $70,000.
c. paid-in capital in excess of par-common for $35,000.
d. legal expense for $70,000.
Answers: 3
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Miller corporation issued 7000 shares of its $5 par value common stock in payment for attorney servi...
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