A company issued 60 shares of $100 par value common stock for $7,300 cash. The journal entry to record the issuance is:
a. Debit Cash $7,300; credit Common Stock $7,300.
b. Debit Investment in Common Stock $7,300; credit Cash $7,300.
c. Debit Cash $7,300; credit Common Stock $6,000; credit Paid-in Capital in Excess of Par Value, Common Stock $1,000.
d. Debit Common Stock $6,000, debit Investment in Common Stock $1,000; credit Cash $7,300.