When Wisconsin Corporation was formed on January 1, the corporate charter provided for 80,700 shares of $6 par common stock. During its first month of operation, the corporation issued 7,240 shares of stock at a price of $21 per share.

The entry to journalize the stock issue would include a

O a. credit to Common Stock for $152.040

O b. debit to Common Stock for $80,700

O c. debit to Cash for $43,440

O d. credit to Paid-In Capital in Excess of Par for $108,600