Bendik Corporation received a check from its underwriters for $48,600,000. This was for the issue of one million of its $.01 par stock that the underwriters expect to sell for $52 per share. Which is the correct entry to record the issue of the stock?

Group of answer choices

Cash	48,600,000
Common stock		10,000
Paid-in capitalexcess of par		48,590,000

Cash	48,600,000
Stock issue expense	3,400,000
Common stock		10,000
Paid-in capitalexcess of par		51,990,000

Cash	48,600,000
Stock issue expense	3,400,000
Common Stock		52,000,000

Cash	48,600,000
Common stock		48,600,000