Carla Vista Company is authorized to issue 9800 shares of 8%,$100 par value preferred stock...

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Accounting

Carla Vista Company is authorized to issue 9800 shares of 8%,$100 par value preferred stock and 490000 shares of no-par common stock with a stated value of $1 per share. If Carla Vista issues 9800 shares of common stock to pay its recent attorney's bill of $49000 for legal services on a land access dispute, which of the following would be the best journal entry for Carla Vista to record?
Legal Expense
9800
Common Stock
9800
Legal Expense
49000
Common Stock
9800
Paid-in Capital in Excess of Stated Value - Common
39200
Legal Expense
49000
Common Stock
9800
Paid-in Capital in Excess of Par - Common
39200
Legal Expense
49000
Common Stock
49000
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