A company issued 60 shares of $100 par value common stock for $7,000 cash. The journal entry to record the issuance is: O A. Debit Cash $7,000; credit Common Stock $7,000 OB. A debit to Organization Expenses for 55.000 OC. A credit to Common Stock for $5,000 OD. A credit to Pald-in Capital in Excess of Par Value, Common Stock for $5,000 O E. A debit to Paid-in Capital in Excess of Par Value, Common Stock for $2,000 A company issued 60 shares of $100 par value common stock for $7,000 cash. The journal entry to record the issuance is: O A. Debit Cash $7,000; credit Common Stock $7,000 OB. A debit to Organization Expenses for 55.000 OC. A credit to Common Stock for $5,000 OD. A credit to Pald-in Capital in Excess of Par Value, Common Stock for $5,000 O E. A debit to Paid-in Capital in Excess of Par Value, Common Stock for $2,000