A company issued 100 shares of common stock with a par value of $3 for $7 per share. The journal entry to record this transaction is

a.

	Debit	Credit
Cash	$700
Common Stock - $3 par value		$700

b.

	Debit	Credit
Cash	$700
Common Stock - $3 par value		$300
Paid-In Capital in Excess of Par - Common		$400

c.

	Debit	Credit
Common Stock - $3 par value	$700
Cash		$300
Paid-In Capital in Excess of Par - Common		$400

d.

	Debit	Credit
Cash	$300
Paid-In Capital in Excess of Par - Common		$300