When Wisconsin Corporation was formed on January 1, the corporate charter provided for 110,600 shares of $15 par value common stock. The following transaction was among those engaged in by the corporation during its first month of operation: The corporation issued 6,480 shares of stock at a price of $20 per share.

The entry to record the above transaction would include a

a. debit to Cash for $97,200

b. credit to Paid-in Capital in Excess of Par for $32,400

c. debit to Common Stock for $110,600

d. credit to Common Stock for $129,600