A company issued

500500

shares of

$ 3$3

par common stock in exchange for a piece of equipment with a current market value of

$ 23 comma 000$23,000.

Which of the following is the correct journal entry for this transaction?

A.

Equipment	23 comma 00023,000
Common Stock		23 comma 00023,000

B.

Equipment	23 comma 00023,000
Common Stock		1 comma 5001,500
Paidminusin Capital in Excess of Par long dash Common		21 comma 50021,500

C.

Paidminusin Capital in Excess of Par long dash Common	21 comma 50021,500
Common Stock	1 comma 5001,500
Equipment		23 comma 00023,000

D.

Equipment	23 comma 00023,000
Common Stock