Comfort Mattresses,Inc

Multiple Choice

Comfort Mattresses,Inc.sold 26,000 shares of its $1 par value common stock at a cash price of $12 per share.The entry to record this transaction would be:

A) Debit Cash $312,000;credit Common Stock $26,000;credit Paid-in Capital in Excess of Par Value,Common Stock $286,000.
B) Debit Cash for $312,000;credit Common Stock $312,000.
C) Debit Common Stock $26,000;debit Paid-in Capital in Excess of Par Value,Common Stock $286,000;credit Cash $312,000.
D) Debit Cash $312,000;credit Stock Liability $286,000;credit Common Stock $26,000.
E) Debit Common Stock $26,000;credit Cash $26,000.