Percy Corporation was formed on January 1. The corporate charter authorized 100,000 shares of $10 par value common stock. During the first month of operation, the corporation issued 370 shares to its attorneys in payment of a $5,700 charge for drawing up the articles of incorporation. The entry to record this transaction would include:

• A debit to Paid-in Capital in Excess of Par Value, Common Stock for $2,000.
• A debit to Organization Expenses for $5,700.
• A credit to Paid-in Capital in Excess of Par Value, Common Stock for $5,700.
• A debit to Organization Expenses for $3,700.
• A credit to Common Stock for $5,700.