A company issued 60 shares of $100 par value common stock for $7,000 cash. The journal entry to record the issuance is:

		Debit Cash $7,000; credit Common Stock $7,000.
		Debit Investment in Common Stock $7,000; credit Cash $7,000.
		Debit Cash $7,000; credit Common Stock $6,000; credit Paid-in Capital in Excess of Par Value, Common Stock $1,000.
		Debit Common Stock $6,000, debit Investment in Common Stock $1,000; credit Cash $7,000.