A corporation sold 14,000 shares of its $1 par value common stock at a cash price of $13 per share. The entry to record this transaction would include:
A. A credit to Paid-in Capital in Excess of Par Value, Common Stock for $196,000.
B. A debit to Cash for $14,000.
C. A credit to Common Stock for $14,000.
D. A debit to Paid-in Capital in Excess of Par Value, Common Stock for $182,000.
E. A credit to Common Stock for $182,000.
Answer: C
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