Mendez, Inc., issued 20,000 shares of no-par common stock, stated value $10, at $16 cash per share. The journal entry to record this transaction is:

Select one:

A.Cash320,000Common Stock320,000

B.Cash320,000Common Stock200,000Paid-in Capital in Excess of Par Value120,000

C.Cash320,000Common Stock200,000Retained Earnings120,000

D.Cash320,000Common Stock200,000Paid-in Capital in Excess of Stated Value120,000

E. None of the above