Answer:
c.Common Stock, $15,000, and Paid-In Capital in Excess of Par—Common Stock, $7,000
Explanation:
When common stocks are issued the cash is received so, it is debited because cash is an asset and assets have debit nature. On the other hand equity accounts are credited, which may include the common stock (at par) account and Add-in-capital excess of par common stock ( if the stocks are issued over par value ).
Common Stocks = 1,000 x $15 = $15,000
Paid-In Capital in Excess of par = 1,000 x ( $22 - $15 ) = $7,000
