D Question 17 6 pts On 12/31/XO, Racer Corp. has 1,400,000 shares authorized to issue. On 1/1/X1. Racer Corp. issued 277,000 shares of $0.01 par value common stock for $11/share. Immediately after the shares are issued, they trade for $12/share. The journal entry to record the issues of the shares is which of the following? O DEBIT: Cash $3,324,000; CREDIT: Common Stock, par value $277,000; Paid-in Capital in Excess of Par $3,047,000 O DEBIT: Cash $3,324,000; CREDIT: Common Stock $3,324,000 O DEBIT: Cash $3,047,000; CREDIT: Common Stock $277,000: Gain on Issuance $2,770,000 O DEBIT: Cash $3,047,000; CREDIT: Common Stock, par value $2,770; Paid-in Capital in Excess of Par $3,044,230 Hide Ilon.examity.com is sharing your screen. Stop sharing 6 pts