A corporation sold 16,500 shares of its $10 par value common stock at a cash price of $13 per share. The entry to record this transaction would include:
A. A debit to Paid-in Capital in Excess of Par Value, Common Stock for $214,500.
B. A debit to Cash for $165,000.
C. A credit to Paid-in Capital in Excess of Par Value, Common Stock for $379,500.
D. A credit to Common Stock for $214,500.
E. A credit to Common Stock for $165,000.
Answer: E
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