When Wisconsin Corporation was formed on January 1, the corporate charter provided for 91,800 shares of $11 par value common stock. During its first month of operation, the corporation issued 8,540 shares of stock at a price of $20 per share.

The entry to record the above transaction would include a

a.credit to Common Stock for $170,800

b.credit to Paid-In Capital in Excess of ParCommon Stock for $76,860

c.debit to Cash for $93,940

d.debit to Common Stock for $91,800