Five hundred common shares trading at $25/share were exchanged for a piece of equipment with a current market value of $13,500. The journal entry to record the transaction would include a:

Select one:

A.

credit to Common Shares for $13,500.

B.

debit to Equipment for $13,500.

C.

debit to Common Shares for $12,500.

D.

credit to Common Shares for $12,500.

E.

credit to Equipment for $12,500.