Corning Corporation issued 1,000 shares of its $5 par-value common stock for cash at $13 a share. Record the issuance of the stock in a general journal.
| Cash (1000*13) | 13,000 | |
| Common stock (1000*5) | 5,000 | |
| Paid in capital in excess of par - common stock | 8,000 |
(to record the issuance of common stock)
Corning Corporation issued 1,000 shares of its $5 par-value common stock for cash at $13 a...