On January 1, Year 1 Graham Corporation issued 200 shares of $5 par value common stock for $40 per share. Which of the following journal entries shows how this event would be recorded on January 1, Year 1?

Debit 1,000 7,000 Account Titles Credit Common Stock Additional Paid-in Capital in Excess of Par Value Cash 8,000 Account Titles Debit Credit Cash 9,000 Common Stock 1,000 Additional Paid-in Capital in Excess of Par Value 8,000 Account Titles Debit Credit Cash 8,000 7,000 1,000 Common Stock Additional Paid-in Capital in Excess of Par Value Account Titles Debit Credit Cash 8,000 Common Stock 1,000 Additional Paid-in Capital in Excess of Par Value 7,000