Each of the following is a supply shifter EXCEPT: A. Number of sellers in a given market B. Cost of production of a specific good C. Change in consumer price expectations D. Change in producer price expectations Please select the best answer from the choices provided A B C D.

The journal entry for sale of the stock is shown below:

Explanation:

Cash A/cDr       $23,600,000

      Common Stock A/cCr     $4,000,000

      Paid in Capital in Excess of Par: Common Stock A/cCr    $19,600,000

As the common stock are issued.

Stock Issue Expense A/cDr    $4,000,000

          Cash A/cCr   $4,000,000

As stock issue expense is incurred.

Working Note:

Common Stock = Number of stock sold × Par Value

= 4,000,000 × $1

= $4,000,000

Paid in Capital in Excess of Par: Common Stock = Amount received - Common Stock

= $23,600,000 - $4,000,000

= $19,600,000