Question: 1 pt 33 of 75 (27 complete) cosilland Inc. purchases 16,000 shares of its previously issued $3.00 par value common stock for $160.00 per share. Which of the following is the correct journal entry to record this transaction? O A Debit Cash $2.512,000, and credit Treasury Stock-Common $2,512,000 OB. Debit Common Stock-53.00 Par Value 52 560,000, and credit Cash 52,560,000 OC. Debit Cash $2,512,000, and credit Paid - in Capital in Excess of Par-Common 52,512,000 OD. Debl Treasury Stock-Common $2.560.000, and credit Cash $2,560,000