A company issued 60 shares of $100 par value common stock for $7,600 cash. The journal entry to record the issuance is:Multiple ChoiceDebit Cash $7,600; credit Common Stock $7,600.Debit Investment in Common Stock $7,600; credit Cash $7,600.Debit Cash $7,600; credit Common Stock $6,000; credit Paid-in Capital in Excess of Par Value, Common Stock $1,600.Debit Common Stock $6,000, debit Investment in Common Stock $1,600; credit Cash $7,600.Debit Cash $7,600; credit Paid-in Capital in Excess of Par Value, Common Stock $6,000, credit Common Stock $1,600.