Acme Corp. issued $500,000 of its ten-year 6% bonds at 104. Each $1,000 bond carries ten warrants. Each warrant allows the holder to purchase one share of $10 par common stock for $50. Following the sale, relevant market values were:

Bonds $980 each (ex rights)

Warrants $14 each

Common stock $60 each

The entry to record the exercise of 1,500 warrants would include a

a. debit to Cash for $19,500

b. debit to Common Stock for $15,000

c. credit to Additional Paid-in Capital on Common Stock for $79,500

d. credit to Additional Paid-in Capital on Common Stock for $60,000