Sunland Corporation issued 590 shares of no-par common stock for $8,800. Prepare Sunland's journal entry if (a) the stock has no stated value, and (b) the stock has a stated value of $2 per share. (L...
A) Increase in common stock and increase in additional paid-in capital
B) Increase in common stock and decrease in retained earnings
C) Increase in cash and increase in common stock
D) Increase in cash and increase in additional paid-in capital
