Use the Following Information to Answer Questions 57-58

Multiple Choice

Use the following information to answer questions 57-58.
Minosh Corp. is authorized to issue 400,000 no par value common shares. Subscribers agree to purchase shares at $ 12 per share with a 30% down payment.
-Assume that subscribers agree to purchase 75,000 shares and make the required down payment. The journal entry to record receipt of the subscriptions includes a

A) debit to Common Shares Subscribed for $ 900,000.
B) credit to Common Shares Subscribed for $ 900,000.
C) credit to Common Shares for $ 270,000.
D) credit to Subscriptions Receivable for $ 670,000.