Bentley corporation received cash from issuing 17,000 shares of common stock at par on january1, 2018. the stock has a par value of $0.05 per share. which is the correct journal entry to recordthis transaction? a) cash is debited for $850, and common stock$0.05 par value is credited for $850.b) paid-in capital in excess of par-common is debited for $16,150, and common stock$0.05par value is credited for $16,150.c) cash is debited for $17,000, common stock$0.05 par value is credited for $850, andpaid-in capital in excess of par-common credited for $16,150.d) cash is credited for $17,000 and common stock$0.05 par value is debited for $17,000.
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