On August $26,$ Mountain Realty Inc. issued for cash $120,000$ shares of no$-$par common stock $($with a stated value of $$5)$ at $$8.$ What account would be debited and for what amount?

$\backslash$table$[[$DATE$,$DESCRIPTION,PREF,DEBIT,CREDIT$],[\backslash$table$[[$Aug$.],[26]],(1)?,,?,],[,(2),,,],[,(2),,,]]$

Cash debited $$600,000$

Cash debited $$960,000$

Paid$-$in Capital in Excess Par $-$ Common Stock debited $$600,000$

Common Stock debited $$600,000$