Entity K is authorized to issue 1,000,000 shares of $2 par value common stock. On January 1, Entity K issued 600,000 shares of stock at $9 per share. The journal entry to record the transaction on January 1 includes:

		a credit to Common Stock for $5,400,000
		a credit to Paid-In Capital In Excess of Par, Common Stock for $1,200,000
		a debit to Cash for $4,200,000
		a credit to Common Stock for $1,200,000