If Larger Company issues 2,600 shares of $5 par value common stock for $54,600, determine the result of the transaction on the accounts.

Select the correct answer.

Common Stock will be credited for $54,600.

Paid-in Capital in excess of Par Value will be credited for $25,200.

Cash will be debited for $12,600.

Paid-in Capital in excess of Par Value will be credited for $12,600.