Question

Jade jewelers issued 15,000 shares of $1 par value stock for $20 per share. what is true about the journal entry to record the issuance?

Answer 1

This sentence is true about the journal entry to record the issuance: CREDIT COMMON STOCK $15,000.00.
For the stocks issued out as shares, the common stock account will be credited a sum of $15,000 for the transaction. $15,000 is been credited to this account because, that is the real value of the stocks that were sold.