When Bunyan Corporation was formed on January 1, the corporate charter provided for 106,800 shares of $8 par value common stock. The following transaction was among those engaged in by the corporation during its first month of operation: The corporation issued 8,900 shares of stock at a price of $27 per share.

Which of the following would be included when recording the transaction?

Select the correct answer.

credit to Common Stock for $240,300

debit to Common Stock for $106,800

debit to Cash for $71,200

credit to Paid-in Capital in Excess of Par for $169,100