Entity F issued 3,000 shares of its $1 par value common stock for $7 per share. Which of the following statements is correct? Hint: Prepare the journal entry and then answer the question.

A) Cash should be debited for $18,000.

B) Common stock should be credited for $3,000.

C) Common stock should be credited for $21,000.

D) Paid-in-capital-in-excess-of-par-value should be debited for $18,000.