When Bunyan Corporation was formed on January 1, 20xx, the corporate charter provided for 97,200 shares of $9 par value common stock. The following transaction was among those engaged in by the corporation during its first month of operation: The corporation issued 6,560 shares of stock at a price of $24 per share. Which of the following would be included when recording the transaction?

debit to Common Stock for $97,200

credit to Paid in Capital in Excess of Par for $98,400

credit to Common Stock for $157,440

debit to Cash for $59,040