Sheffield Corp. issued 100000 shares of $10 par common stock for $1210000. A year later Sheffield acquired 16200 shares of its own common stock at $15 per share. Three months later Sheffield sold 7700 of these shares at $19 per share. If the cost method is used to record treasury stock transactions, to record the sale of the 7700 treasury shares, Sheffield should credit

A) Treasury Stock for $115500 and Paid-in Capital in Excess of Par for $30800.

B) Treasury Stock for $146300.

C) Treasury Stock for $77000 and Paid-in Capital from Treasury Stock for $69300.

D) Treasury Stock for $115500 and Paid-in Capital from Treasury Stock for $30800.