Necessities, Inc. issued 750 shares of no-par common stock, with no stated value, for $60 cash per share. The journal entry to record this transaction is:

Select one:

A.

Cash

45,000

Common Stock

45,000

B.

Cash

45,000

	Common Stock		750
	Paid-in Capital in Excess of Par Value		44,250

C.

Cash

45,000

Paid-in Capital in Excess of Par Value

45,000

D.

Cash

45,000

	Common Stock		15,000
	Paid-in Capital in Excess of Par Value		30,000