Nexis Corp. issues 2,450 shares of $12 par value common stock at $18 per share. When the transaction is recorded, what credit entry or entries are made?

a.Common Stock $29,400 and Paid-in Capital in Excess of Par Value $14,700.

b.Common Stock $29,400 and Paid-in Capital in Excess of Stated Value $14,700.

c.Common Stock $14,700 and Retained Earnings $29,400.

d.Common Stock $44,100.