(solution) Bradley Corporation issued 10,000 shares of common stock on January 1, 2015.

(solution) Bradley Corporation issued 10,000 shares of common stock on January 1, 2015.

Bradley Corporation issued 10,000 shares of common stock on January 1, 2015. The stock has a par value of $0.01 per share and was sold for cash at par. Which of the following is the correct journal entry to record this transaction?Cash debited for $100 and Common Stock – $0.01 Par Value credited for $100 Paid – In Capital in Excess of Par – Common debited for $9,900 and Common Stock – $0.01 Par Value credited for $9,900 Cash credited for $10,000 and Common Stock – $0.01 Par Value debited for $10,000 Cash debited for $10,000, Common Stock – $0.01 Par Value credited for $100, and Paid-In Capital in Excess of Par – Common credited for $9,900