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Nexis Corp. issues 1,000 shares of $15 par value common stock at $25 per share. When the transaction is recorded, credits are made to: Group of answer choices Common Stock $15,000 and Paid-in Capital in Excess of Par Value $10,000. Common Stock $25,000 and Retained Earnings $15,000. Common Stock $15,000 and Paid-in Capital in Excess of Stated Value $10,000. Common Stock $25,000.

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Based on the information given the transaction that is recorded are: credits are made to: Common Stock, $15,000, and Paid-In Capital in Excess of Par, $10,000.

Nexis Corp. Journal entry

Debit Cash $25,000

($25×1,000 shares)

Credit Common Stock, $15,000

($15×1,000 shares)

Credit Paid-In Capital in Excess of Par, $10,000

[($25-$15)× 1,000 shares]

(To record common stock)

Inconclusion the transaction that is recorded are: credits are made to: Common Stock, $15,000, and Paid-In Capital in Excess of Par, $10,000.

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