Sunshine Corp. was organized on Jan. 1 with authorization of 10,000 shares of preferred stock, $100 par, and 100,000 shares of $20 par common stock. Indicate the account that should be recorded in the Description column of the Journal item (2) as the credit account for the $1,000,000 assuming that Sunshine Corp. received cash for the issuance of 50,000 shares of common stock at par.

A. Common Stock

B. Cash

DATE DESCRIPTION PREF DEBIT CREDIT 1,000,000 1,000,000