Use the following information to answer the questions$)$ below.

When Calvert Corporation was formed on January $1,20$x$1,$ the corporate charter provided for $50,000$ shares of $$20$ par value common stock. The following transactions were among those engaged in by the corporation during its first month of operation:

The corporation issued $200$ shares of stock to its lawyer in full payment of the $$5,000$ bill for assisting the company in drawing up its articles of incorporation and filing the proper papers with the state agency.

The company issued $8,000$ shares of stock at a price of $$25$ per share.

The company issued $7,000$ shares of stock, in exchange for equipment that had a fair market value of $$160,000.$ We cannot place a price on the stock.

The entry to record transaction $1$ would include a

a$.$ debit to Start$-$up and Organization Cost for $$4,000.$

b$.$ debit to Start$-$up and Organization Cost for $$5,000.$

c$.$ credit to Additional Paid$-$in Capital for $$4,000.$

d$.$ credit to Common Stock for $$5,000.$

The entry to record transaction $2$ would include a

a$.$ credit to Common Stock for $$200,000.$

b$.$ credit to Common Stock for $$160,000.$

c$.$ debit to Additional Paid$-$in Capital for $$40,000.$

d$.$ debit to Cash for $$160,000.$

The entry to record transaction $3$ would include a

a$.$ debit to Equipment for $$140,000.$

b$.$ debit to Common Stock for $$140,000.$

c$.$ credit to Common Stock for $$160,000.$

d$.$ credit to Additional Paid$-$in Capital for $$20,000.$

The entry to record transaction $3$ would include a

a$.$ credit to Common Stock for $$140,000.$

b$.$ debit to Common Stock for $$160,000.$

c$.$ debit to Additional Paid$-$in Capital for $$35,000.$

d$.$ credit to Equipment for $$160,000.$