Bandit, Inc., issued for $57 per share 5,000 shares of $30 par value common stock. The journal entry to record this transaction is:

Select one:

a. Debit: Cash 285,000 Credit: Common Stock 150,000 Credit: Paid-in Capital in Excess of Par Value 135,000

b. Debit: Cash 285,000 Credit: Common Stock 285,000

c. Debit: Cash 285,000 Credit: Common Stock 150,000 Credit: Gain on Sale of Stock 135,000

d. Debit: Cash 285,000 Credit: Common Stock 150,000 Credit: Retained Earnings 135,000