If a company issues 1,000 shares of $4 par value common stock at a market price of $120 per share, which of the following is the correct balance sheet entry?

A.Increase cash by $120,000 and increase earned capital by $120,000

B.Increase cash and revenues by $120,000

C.Increase cash by $120,000, increase common stock by 4,000 and additional paid-in capital by $116,000

D. Increase cash and common stock by $120,000