A company issued 500 shares of $3 par common stock in exchange for a piece of equipment with a current market value of $20,000. Which of the following is the correct journal entry for this transaction?

a.

Equipment	20,000
Common Stock		1,500
Paid-in Capital in Excess of Par Common		18,500

b.

Paid-in Capital in Excess of Par Common	18,500
Common Stock	1,500
Equipment		20,000

c.

Equipment	20,000
Common Stock		20,000

d.

Equipment	20,000
Common Stock		500
Paid-in Capital in Excess of Par Common		19,500