Alma Corp. issues 1,000 shares of $7 par common stock at $16 per share. When the transaction is recorded, credits are made to

a.Common Stock, $9,000 and Paid-In Capital in Excess of Stated Value, $7,000.

b.Common Stock, $7,000 and Paid-In Capital in Excess of ParCommon Stock, $9,000.

c.Common Stock, $16,000.

d.Common Stock, $7,000 and Retained Earnings, $9,000.